Crompton goes for strategic change in business model

摘要

Crompton Greaves, part of industrial conglomerate Avantha Group, is working on re-modelling itself. Hit by the global slowdown and intensified competition, primarily from Chinese and South Korean firms, the company's shareholders lost half their wealth in 2011-12. And, the company's shares tanked five times more than the benchmard indices. In a letter to shareholders, Group Chairman Gautam Thapar stated the company required a strategic change of gear and "leverage on research and development more than ever before."