Moser Baer to set up a subsidiary in Cyprus

Mumbai, Jul 28: Moser Baer India Ltd has proposed to set up a 100 per cent subsidiary in Cyprus, with an initial capital of Euros 25,000 for acquiring optical media and other business.

Informing the BSE, the company said the subsidiary is to help further its business, in general, including acquiring future technology in Europe, US and other parts of the world.

The proposed subsidiary would help identify opportunities in global research and development in optical media and other technologies and simultaneously, look for setting up greenfield projects in Europe and other global markets.

UNI