Autoline Industries Ltd has informed BSE that “Autoline Industries Ltd, Pune” and “Sharjah Cement & Industrial Development Co. (SCIDC), (UAE)”, have entered into Shareholders’ Agreement on February 28, 2008 with Autoline Industrial Parks Ltd, Pune a subsidiary Company of Autoline Industries Ltd. This joint venture has been formed for the purpose of setting up and development of Industrial parks relating mainly to Auto Ancillary Units, Design Engineering Units etc.

By virtue of this agreement Autoline Industries Ltd and its Associates proposes to hold 51.00% and Sharjah Cement & Industrial Development Co. and its Associates proposes to hold 47.33% of the total paid-up share capital of Autoline Industrial Parks Ltd.