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Mar 26, 2013 05:29 PM IST | Source: Moneycontrol.com

Tata Metaliks inks pact with Japan's Kubota Corp, Metal One Corp

Tata Metaliks has signed an agreement with M/s. Kubota Corporation, Japan and Metal One Corporation, Japan on March 25, 2013 terminating the joint venture agreement executed on July 20, 2007 in relation to Tata Metaliks Kubota Pipes Limited, subsidiary of the Company.

 
 
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Tata Metaliks Ltd has informed BSE that the Company has:-1. signed an agreement with M/s. Kubota Corporation, Japan and Metal One Corporation, Japan on March 25, 2013 terminating the joint venture agreement executed on July 20, 2007 in relation to Tata Metaliks Kubota Pipes Limited, subsidiary of the Company;2. signed a Memorandum of Settlement (the "MoS") with the Tata Metaliks Workers' Union (the "Union"), Redi at Terekhol Road, Sindhudurg, Maharashtra on March 25, 2013 in respect of all permanent employees, in pursuit of the Company’s plans to close down the Redi Operation.Source : BSE

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