Ind Swift Ltd announced that the Board of Directors at its meeting held on December 18, 2002 have decided to merge the two of its group Companies in same line of business with the Ind Swift Ltd. This is a part of consolidation exercise and to attain business synergies, the Company informed BSE.

The Companies considered are Mukur Pharmaceutical Co. Pvt. Ltd for manufacturing of syrups, liquids etc and Swift Formulations Pvt. Ltd for manufacturing of ointments, creams etc. The Company has appointed Price Waterhouse Coopers for the valuation process.