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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (4822)	6/30/1999 2:58:00 PM
From: Mohan Marette	Read Replies (1) of 12475

Boston Consulting Group to advise Larsen & Toubro on restructuring plan (Thursday, July 1, 1999) Our Corporate Bureau in Mumbai (Business Standard) Larsen & Toubro Ltd (http://www.larsentoubro.com/), the engineering and cement major has appointed the US-based Boston Consulting Group (BCG) as advisors on the company's restructuring plan. The international consultants are expected to develop a comprehensive programme to steer the Rs 7,291 crore L&T towards becoming a premium conglomerate and to maximise shareholder value. BCG is expected to submit its recommendations by mid-November 1999. BCG will propose definite measures for value creation through accelerated growth and enhanced profitability. It will also review the company's business portfolio and revalidate the company's strategies for becoming an Indian multinational, according to L&T press release. The international consultants are also expected to review presentations made by the six internal taskforces before submitting their report. L&T's new CEO and managing director, AM Naik had appointed the taskforces in the company to primarily take a look at the performance of division. Naik has been evaluating the option of hiving the cement division and switchgear business into separate companies. He has also been considering moving away from other fringe businesses like medical equipments and glass bottles. The consultants are expected to flag off the entire exercise with a three-day interactive management work-out in which L&T's top 100 managers would participate.

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