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Pradeep Metals's US subsidiary secures ECB of USD 2 million

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Capital Market

For part financing of its acquisition of CNC Machine Shop

Pradeep Metals announced that Union Bank of India, Hong Kong Branch vide sanction letter dated 14 February 2015 received on 16 February 2015 at 4:30 P.M. (IST), has sanctioned ECB of USD 2.00 mn to Pradeep Metals, USA, 100% Subsidiary of the Company, for partly financing its cost of acquisition of 51% stake in a CNC Machine Shop at Houston, USA.

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First Published: Feb 19 2015 | 6:48 PM IST

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