Exide Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 29, 2008, has given their approval for an investment in another local smelter, with an initial amount of up to Rs 35 crores.
The Company is in discussions to this end with local smelters, to establish yet another strategic alliance. As and when the ongoing negotiations have reached a conclusive stage, this will be informed.
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