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Metal Bulletin
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This has reference to your press release appeared in Metal Bulletin on 12.02.2008.
The information given in the press release with the heading “Vasavi Industries to Boost production 38% with new unit” is misleading not true.
While both GMR & GER hail from the same family, we would like to put the records straight to say that both are separate entities.
Sri Vasavi Industries Limited has nothing to do with GMR Ferro alloys nor have Sri Vasavi Industries Limited got any intention to take over GMR Ferro Alloys unit.
We have not approached GMR Ferro Alloys Ltd for a buy out.
We would be grateful to you if you can signify the source that is spreading false information.
As you may be aware that we are a listed company wrong feedback such as the one given by you can mislead & misguide our share holders.
We may be forced to claim damages legally if unchecked and unauthenticated information is published without checking with us.
We would appreciate expressing regret for having published the unchecked information from your end.
Kindly, cross check with us about the veracity of the information that may be published to avoid unavoidable embarrassment.
With warm regards,
For SRI VASAVI INDUSTRIES LTD
Manager – Corporate Communication. GER Group of Industries. Bangalore.
