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L&T pulls plug on packaging line

Arijit De & Rumi Dutta  |  Mumbai 

Company weighs viability of less-than-Rs 100 cr businesses

Larsen & Toubro (L&T) has shut down its packaging business as part of a portfolio restructuring.

The engineering and construction major, after having decided on the demerger and sale of its 16 million tonne-plus cement business, is now reviewing the operations of its small-sized businesses as well.

While the first to come under the scanner is its packaging business, the next in line is its glass business, while several other small businesses are to examined in terms of financial viability.

The company is primarily evaluating its less than Rs 100 crore businesses which are more of a drag in terms of their ability to contribute to the company

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First Published: Wed, September 24 2003. 00:00 IST