Kesoram set to spin off Birla tire business

摘要

INDIA: Kesoram Industries is spinning off its tire business to create a separate Birla Tyres Ltd(BTL) entity,the company announced 4 Dec.The”demerger”process was set for 1 Jan 2019,subject to the approval of authorities,following which BTL would be listed on the Kolkata Stock Exchange.The move is part of Keso-ram's ongoing restructuring,which it has undertaken in the past few months.Kesoram,part of the Basant Kumar Birla group of companies,owns three businesses of tires,cement and rayon.Through the restructuring,the company said it aimed to transform each business into entities that are”market-driven”in their approach.