Thapar Group Promotes Firm For Exports To Africa
The Thapar group companies have jointly promoted Karam Chand Thapar (Africa) Ltd for routing their exports to Africa.
Four group companies BILT ( Ballarpur Industries Ltd), Crompton Greaves, AP Rayon and Bharat Starch each hold a 20 per cent stake in the new company while the remaining 20 per cent stake wil be held by other group companies.
Crompton sources said Karam Chand Thapar (Africa) Ltd has been set up to exclusively facilitate the groups exports to Africa.
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At present, there are no plans to set up a similar outfit in other countries, they added.
Karam Chand Thapar (KCT) Bros is the holding company for the Thapar group in India.
In 1996-97, Crompton bought shares worth Rs 0.36 crore. These consisted of one lakh shares of $1 each.