ISGEC Heavy Engineering, engaged in the manufacturing of machinery parts and equipment, has entered into a License Agreement with Taim Weser S.A., a company organized under the laws of Spain, for transfer of Technology in respect of Material Handling Equipment (namely Stacker, Reclaimers, stacker-reclaimers, ship-loaders, truck/train loading systems, ship un-loaders and belt conveying systems) and bulk material handling systems.

The License Agreement is for manufacture and sale of the aforesaid licensed products in India.

Shares of the company declined Rs 55.65, or 0.9%, to trade at Rs 6,151.25. The total volume of shares traded was 22 at the BSE (10.33 a.m., Monday).