Bharati to buy Tebma Shipyard

Nov 24, 2010 |

IANS

New Delhi, Nov. 23: Bharati Shipyard plans to acquire 51 per cent equity stake and management control in south India-based Tebma Shipyards for `75.75 crore, the company said on Tuesday.

“This significant acquisition of Tebma Shipyards is of strategic importance to us as we get access to their readymade and modern shipyards at Maloe in Karnataka, Kochi in Kerala and Chengalpet in Tamil Nadu,” said Mr P.C. Kapoor, managing director Bharati Shipyard in a regulatory filing.

The combined entity, with a total of nine shipyards, will now be in a formidable position to offer cost-effective solution to their global and domestic customers, he added. At the BSE the shares of Bharati Shipyard were 2.16 per cent higher to trade at `234.

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