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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (8600)	10/19/1999 6:51:00 PM
From: Mohan Marette	Read Replies (1) of 12475

L&T to hive off construction equipment business larsentoubro.com Larsen & Toubro Ltd (L&T) is likely to spin off its construction equipment business at Pithampur, Madhya Pradesh into a 50:50 JV with Case Corporation of USA. This JV was finalized more than a year back, but is likely to be formalized soon. Earlier the company had spun off its earthmoving equipment division into a JV with Komatsu of Japan. This is a part of the restructuring of operations, which began about two years back, which saw the company selling off its leather and shipping businesses. Further restructuring is on cards, after Boston Consulting Group completes its study and gives its recommendation later during the year. It is widely expected that the company would spin off its cement business into a subsidiary company. Meanwhile, L&T?s JV with John Deere of USA for the manufacture of tractors at a new plant in Rajnangaon near Pune is likely to commence production soon. In the first phase, the plant will have a capacity of 30,000 nos. per annum and this will be later enhanced to 60,000 nos. per annum. (Probity)

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