Ballarpur Inds Set To Hive Off Concrete Unit

Ballarpur Industries Ltd (BILT) has decided to hive off its auto-claves aratted concrete division into a separate company as part of its on-going restructuring exercise.

The company has decided to convert the auto-claves aratted concrete unit into a separate company at its board meeting here yesterday, the Bilt spokesperson said.

With a turnover of around Rs 10 crore, the auto-claves aratted concrete division will also attract potential investors and strategic partners, company sources added.

According to the spokesperson, the decision to hive off this unit into a separate company has been taken in order to focus on Bilt's core business of pulp and paper.

 

"The company's board had already appointed a committee to take a decision regarding the fate of the auto-claves aratted concrete unit. The panel submitted its report to the board on Monday recommending the hiving off of the unit," he said.

Bilt which started its restructuring in 1994, has already sold its glass and chemical business.

The company also sold its newspaper The Pioneer a couple of years ago.

The auto-claves aratted concrete unit is engaged in manufacturing of light-weight concrete blocks at Palwal near Delhi by using fly-ash as raw material. The blocks are used in construction of buildings. The product is environment friendly as it uses fly-ash from coal burnt in power plants.