20/2011
In connection with the current report no 8/2011 of January 31st, 2011, the Management Board of Boryszew S.A. informs that just today the company Maflow India Private Limited with the seat in Pune Maharashtra in India has been registered. Maflow India has been created to purchase, according to the signed Term Sheet with Auto Private Limited in India, works located at B-5 Midc Mahalunge, Chakan Talegoan Road Pune 410501, India, area of Pune and the selected items of works in Faridabad, including:
– real estate and building with production facilities,
– inventories,
-intangible asset, including: know-how and employments agreements,
– selected assets of works in Faridabad.
Liabilities have been excluded from transaction.
The works has produced air-conditioned cables for automotive sector for Indian cars producers .
Concluding the above mentioned agreement is a continuation of the policy implemented by Boryszew Group to achieve a position of a global, international concern producing for automotive sector of tier-1 type. Purchase of the works in India is connected with strengthen of the position on the BRIC markets (Brazil, Russia, India and China).
Signatures:
Małgorzata Iwanejko – Chairman of the Management Board
Rober Bendarski – Vice Chairman of the Management Board