Kesoram looking to increase industrial footprint in east

Kesoram Industries Ltd is looking at increasing its industrial footprint in the eastern region of the country after the buy-back of spun pipe and the heavy chemicals businesses from Camden Industries Ltd.

"We want to increase industrial footprint. It can be everywhere including here, the company's wholetime Director and CFO Tridib Kr. Das said on Thursday on the sidelines of the AGM of the company.

In 2015, the B.K. Birla group company transferred its sick businesses of heavy chemicals and spun pipes to Camden Industries for a valuation of around Rs 400 crore.

Recently, it has repurchased both the divisions at almost the same valuation.

Das said Camden Industries was not a group company.

Work remained suspended since 2008 at the spun pipe and foundry division located at Bansberia in Bengal's Hooghly district while production remained suspended since 2010 at the heavy chemical unit situated at Khardah, on the outskirts of the city.

He also said the company's presence in the eastern region is limited to only the rayon business at present through its wholly-owned subsidiary Cygnet Industries Ltd.

According to Das, the facilities of the closed companies may be utilised for expanding any of Kesoram's existing businesses of tyres, cement and rayon.

"We have not made a decision yet," Das said adding that the company is not looking to enter any new line of business.

Das also said Kesoram would become profitable once there is a turnaround in its tyre business and it is strengthening on its marketing and sales efforts.

--IANS

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