Indian footwear manufacturer to take controlling stake in Montari Leathers
30/04/2001
The Indian footwear manufacturer, ISML, is to take a controlling 50.94% stake in the underperforming footwear producer Montari Leathers
Set up in technical collaboration with Bally International of Switzerland, Montari was established as an export unit in Tamil Nadu.
Under the terms of the agreement, ISML - , a subsidiary of the International Shoe Manufacturing Corporation ISTL - is entitled to nominate five members of the board of directors, including the chairman.
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