Ashco Industries not to ink JV yet

With reference to news item appearing in a leading financial daily titled "Ashco may ink JV with US R&D co", Ashco Industries Ltd has clarified as follows:

"During the recent overseas trip to US & Europe, Company's Chairman & Managing Director Mr. Ashok K Kotwani had meetings with several Pharma majors and Research Organizations. Meetings were very encouraging and we are hopeful of some positive outcome. As and when, such tie ups / JVs are formed, we will inform immediately.

The said news article published in financial daily does not form part of our communication to this paper. It is a market gossip / rumors only."