ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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CHLORIDE INDUSTRIES-Modernisation

CHLORIDE INDUSTRIES Modernisation CHLORIDE INDUSTRIES' management has changed hands and the board of directors has been reconstituted. B S Chandiramani, A Das Gupta, S B Ganguly, P K Ghosh and D N Majumdar resigned from the board on 26th April 1988. R S Lodha, B K Jhawar, M J Fare- brother, Sidharth Birla and K A Marlantes were appointed in the vacancies caused by these resignations. Farebrother and Marlantes have also resigned and in the resultant vacancies H J Musgrove and R C Randolph have been appointed as directors. The company is taking up a major modernisation programme of all its plants to strengthen the competitive capability of the company, both nationally and internationally, further improving the quality of the products, conserving energy and foreign exchange and improving productivity to more acceptable levels. This is likely to cost around Rs 35 crore over the next two years. It is proposed to finance this expenditure by seeking loans from the financial institutions and partly from internal resources. As a first step towards strengthening the financial posi tion, non-convertible debentures for a total amount of Rs 5 crore are being issued by way of private placement with the institutions. Apart from modernising the existing facilities, attention is also being paid to the introduction of technically superior state-of-the-art batteries for sophisticated uses. In this connection, it is proposed to shortly bring forth maintenance- free batteries which will find application in power, telecommunication and other fields.

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