United Spirits Ltd. sells Tern Distilleries
United Spirits Ltd. has sold Tern Distilleries Pvt. Ltd. to building materials manufacturer NCL Industries Ltd for Rs. 30 crore. United Spirits disclosed in a stock exchange filing that due to its non-operational status Tern Distilleries Pvt. Ltd. had not recorded any turnover and had a net worth of around Rs. 13.4 crore.
Based in Hyderabad, NCL Industries is engaged in the manufacturing of a wide array of products including cement, ready mix concrete, cement-bonded particle boards, and doors.
