No change in IPCL management

22-May-06

The board of IPCL has approved the merger of Apollo Fibres Ltd., Central India Polyester Ltd., India Polyfibres Ltd., Orissa Polyfibres Ltd., Recron Synthetics Ltd. and Silvassa Industries Pvt Ltd. with itself. There would be no change in IPCL’s management post amalgamation of its subsidiaries with itself. Indian Petrochemicals Corporation Ltd. the petrochemical major informed the Bombay Stock Exchange that after the amalgamation there will be no change in the management control of the 'transferee company.'