Uncategorized

L&T to sell plastics machinery business to Toshiba [27 Aug 2012]

Larsen & Toubro to sell its plastics machinery business to Toshiba Machine. The company signed a share sale and purchase agreement with Toshiba Machine Co., Ltd. (TMC), Japan, to sell its entire stake in L&T Plastics Machinery Limited (LTPML). The deal is “pending final closing conditions”.
“The move is in line with the L&T’s strategic road-map to exit non-core businesses and rationalize its portfolio,”, a L&T statement said.
LTPML, a wholly owned subsidiary of L&T, manufactures and markets injection moulding machines. It has recorded sales of Rs. 206 crore and profit after tax of Rs. 11 crore in the last financial year.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Most Popular

To Top