Greenply Industries - Outcome Of Board Meeting
Greenply Industries Limited has informed that the board of directors of the company at its meeting approved the following:
1. Consented to explore an option to De-merge the company's MDF Division into Greenpanel Industries Limited, a wholly owned subsidiary of Greenply Industries Limited. The details of proposed De-merger will be communicated to the Stock Exchanges once the Board of Directors of the company approve the same.
2. Approved expansion of Veneer line in the existing manufacturing unit of Greenply Gabon SA, Gabon, step-down wholly owned subsidiary of the company, situated at NKOK SEZ, Gabon, West Africa.