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Colgate Palmolive India on Thursday signed a memorandum of understanding for the sale of assets of its now defunct Waluj unit in Aurangabad in Maharashtra, the company said in a regulatory filing. The company did not name the buyer or the sale price of the unit, which until May 2015 was its toothbrush manufacturing facility. The unit is being sold on ‘as-is-basis’, the release said. Shares of Colgate Palmolive closed 0.2 per cent lower at ₹976.90 on the NSE.
Fiem Industries has signed a technology licence and assistance agreement (TAA) with Aisan Industry Co Ltd and Toyota Tsusho Corporation, (both Japan based) for the manufacture of Canister, an emission control product. Under the pact, Canister will be manufactured by Fiem Industries with technical support from Aisan Industry. Toyota Tsusho Corporation, a Toyota group company, will provide support for procurement of materials and components for manufacturing Canister. Shares of Fiem Industries jumped 4.1 per cent at ₹1,211.60 on the NSE.
The board of ABG Shipyard on Thursday approved a proposal to divest its subsidiary Western India Shipyard. The board has authorised its Executive Director and other company officials, jointly, to invite suitable bids from prospective investors and negotiate the deal, including the best price, terms and conditions. Shares of ABG Shipyard edged down 0.45 per cent at ₹33.25 on the NSE.
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