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Construction : Deals | April 2013 | Source : Construction Update

Merger process begins for Braithwaite, Bharat Bhari

The Union Ministry of Heavy Industries and Public Enterprises has kick-started a long-proposed amalgamation plan for two engineering companies – Braithwaite, Burn & Jessop Construction (BBJ) and Bharat Bhari Udyog Nigam (BBUNL). As a first step, the Ministry has given additional charge of CMD of these PSUs to Kallol Datta, the CMD of Andrew Yule & Co.

The corporate integration was likely to be carried out in two stages. First, BBJ, the subsidiary of BBUNL, would be merged with the holding company. Afterwards, the merged entity would take up BBJ’s name, Datta said. Both the companies have a more than a century-old chequered history.

BBUNL, once was also the holding company for the British era outfits -- Burns Standard Co and Braithwaite & Co – as also Bharat Wagon and Engineering Co.

 
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