Mumbai : Stovec Industries has received approval for the acquisition of Service and Spare Parts Business relating to Rotary Printing Equipment, which includes Designs and Drawings, Customer and Supplier Database and other related assets, each of which forms an integral part of the Service and Spare Parts Business (Service and Spare Parts Business) from SPGPrints B.V., the Holding Company of the Company.
The price for acquisition of Service and Spare Parts Business of SPGPrints is Euro 2.49 million (Equivalent to around Rs 19.90 crore). The Board of Directors of the Company at its meeting held on April 05, 2019 has approved the same. Stovec Industries is an India-based company, which is engaged in the development and production of consumables for their use in textile and graphic printing industry.
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