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GCL equity shareholders to consider PCL amalgamation on Sep 15

Written by: Staff
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New Delhi, Aug 24 (UNI) Goa Carbon Ltd (GCL) today said its equity shareholders will meet on September 15, to consider the proposed scheme of amalgamation of Paradeep Carbons Ltd (PCL) with the company.

''Pursuant to the order of the High Court of Judicature at Bombay (Goa Bench), a meeting of the equity shareholders of the company will be held on September 15, 2006, for the purpose of considering, and if thought fit, approving, with or without modifications, the proposed scheme of amalgamation of Paradeep Carbons Ltd with the company,'' a statement said.

GCL, a company of the Dempo Group and the second largest manufacturer of Calcined Petroleum Coke (CPC) in the country, reported a net loss of Rs 117.21 lakh in the quarter ended June 30, 2006, as compared to a net profit of Rs 32.35 lakh recorded during the corresponding quarter of the previous year.

Some of the domestic customers include Nalco, Hindalco, Indal, Malco and Balco.

Apart from Aluminium Pechiney, France, with whom GCL has a long-term supply agreement, the company exports CPC to countries like Australia, Egypt, Dubai, Kuwait, Iran, Saudi Arabia, Singapore, Malaysia, Indonesia, Thailand, South Africa, Russia, Wales and England.

UNI PV CS RS1540

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