October 12, 2006
The media had reports on October 11, 2006 that Bombay Burmah Trading Corp. Ltd will shift its Formica plant in Pune to Uttaranchal and subsequently it will develop this land in Pune.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Bombay Burmah Trading Corp. Ltd. has vide its letter inter-alia stated, "The news item published in the media is based on their own interpretation of data & information available from various sources. As stated in our Annual Report for the year 2005 - 2006, the Corporation has set up a new unit at Rudrapur, Uttaranchal to manufacture Laminates with a view to enhance the Corporation's presence and improve its cost competitiveness, as Pune has higher cost structure. The Laminates Unit at Rudrapur has successfully started its production and the Formica Plant in Pune continues to be operational."
Source: National Stock Exchange of India Limited
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