Corporate News 16-Jun-17
Outcome of board meeting of Wheels India
Held on 16 June 2017
Wheels India announced that the Board of Directors of the Company at its meeting held on 16 June 2017 has approved and agreements have been entered into for (a) the slump sale of its passenger car steel wheels business undertaken at Padi, Tamil Nadu and Bawal, Haryana to WIL Car Wheels, its wholly owned subsidiary; and (b) the subsequent investment by Topy Industries, Japan into WCWL pursuant to which Topy shall acquire a 26% stake in WCWL.
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Wheels India
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