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Monday, March 8, 2010

Sold 48% of co’s topline to Schneider: Zicom

Commenting on the sale, Pramod V Rao, MD of Zicom Electronic Security Systems, said that 48% of the company’s topline was sold to Schneider, adding that the proceeds from the sale would be used to diversify into high growth areas and to retire some of Zimcom’s debts.

Rao further said that margins in the retail business was low at present owing to high marketing costs.

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