Brushman India is in active discussions with Snowcem Paint (SPPL) to acquire a strategic stake in SPPL subject to completion of due diligence and after obtaining regulatory approval(s) as may be necessary. Recently, the board of directors of Brushman India has recommended maiden dividend of 5% for the year ended Mar. 31, 2008, subject to the approval of the shareholders at its meeting held on Sep. 01, 2008.
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