Zuari Industries Arm Buys Out Partners' Stake in Joint Venture Forte Furniture

MT Newswires Live10-02

Indian Furniture Products, a wholly-owned subsidiary of Zuari Industries (NSE:ZUARIIND, BOM:500780), has bought out its partner Fabryki Mebli Forte's 50% stake in its joint venture company Forte Furniture Products India for 41,791 Indian rupees, according to a Tuesday filing to the local stock exchanges.

With this, Indian Furniture now holds a 100% stake in Forte Furniture, which manufactures and sells ready-to-assemble furniture (RTAF) under the brand name of Style Spa and Zuari.

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