VIP approves merger of Aristocrat Luggage Ltd

Mumbai, June 5: The Board of Directors one of Asia's largest luggage manufacturers VIP Industries Ltd today approved ''in-principle'' the proposal of amalgamation of Aristocrat Luggage Limited and Quality Plastics Limited with the company and formed a Committee of Directors for assessing the feasibility, appointment of valuers and recommendation of exchange ratio.

Pursuant to the order on January 12 this year passed by the High Court, Blow Plast Limited stands amalgamated with the company with effect from April 1, 2006, a release by VIP said.

Results for the quarter and the year ended March 31 this year and consolidated results for the year are inclusive of figures of erstwhile Blow Plast Limited and to that extent are not comparable with the figures of the corresponding period of previous year.

Results for nine months ended December 31 last year are for the company, as published in terms of clause 41 of the Listing Agreement, and are exclusive of figures of erstwhile Blow Plast Limited.

UNI