Novopan Industries ties-up with Sathguru Management Consultants

New Delhi, Aug 5 (UNI) Hyderabad-based Novopan Industries Ltd, pre-laminated particle board manufacturer of the GVK Group, said it has entered into an agreement with Sathguru Management Consultants (P) Ltd.

Under the agreement Sathguru Management Consultants will provide services as Registrar and Transfer Agent (RTA) to the company.

The terms and conditions of the agreement will be according to what is mutually agreed between the company and RTA, a company statement said.

In October last year, the company had announced plans to set up a modern pre-laminated particle board manufacturing facility in Uttaranchal, in order to tap proximity to markets and the abundant raw material in the Northern region.

The Uttaranchal unit, estimated to cost around Rs 40 crore, at a capacity of around 60,000 cubic metres per annum, will be commissioned by December this year, taking the total capacity of the company to 1.85-lakh cubic metres per annum.

Novopan's Patancheru unit in Andhra Pradesh has an annual capacity of 50,000 cubic metres, while the Shadnagar facility near Hyderabad has 75,000 cubic metres capacity.

Last month, the company's board of directors, had recommended a 21 per cent dividend for the year ended March 31, 2006.

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