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Construction : Project Update | April 2016 | Source : CW-India

L&T sells foundry unit

Larsen & Toubro (L&T) has decided to sell its casting manufacturing unit at Coimbatore to Bradken for Rs 163 crore. Revenue of the foundry unit for the fiscal 2015 was Rs 122 crore and the percentage contribution by revenue and net worth is less than 1 per cent. The sale of this business is in line with the company┬┤s strategic plan to exit non-core business and rationalise its portfolio. The company continues to maintain its foundries at Kansabahal, Odisha, and L&T Special Steels and heavy Forgings at Hazira in Gujarat.
 
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