Aditya Birla Group Sets Sight On Se Asia

After snapping up 50 per cent in a sick Cana-dian company, the Rs 15,000-crore Aditya Birla group is eyeing more acquisitions in south-east Asia. Top group sources said the group was looking at possible opportunities in the region which have become attractive following the sharp devaluation in currencies of most countries.

No firm plans have been drawn up as yet but attention is on the traditional Aditya Birla core industries like pulp, fibre and carbon black. The group is also seriously evaluating the possibility of investment in a paper company.

The Aditya Birla group is the second largest group in the country to scout for acquisitions in that region. Earlier, auto and tractor major Mahindra & Mahindra had also said they are looking at buying out companies in south-east Asia.

 

However, unlike M&M, the Aditya Birla group already has established its presence in the region. It has several companies making carbon black, wood pulp, viscose fibre and synthetics textiles in countries like Indonesia, Philippines and Thailand.

Recently, it bought 50 per cent stake in a Canadian company called Atholville Pulp Mill with a partner Tembec Inc.

Group sources say opportunities are enormous as currency devaluation has made buy-outs much cheaper. The targets will be companies in the businesses like carbon black, fibre and pulp.