Friday, August 31, 2012

Larsen & Toubro to sell plastics machinery business to Toshiba as part of strategy to exit non-core business

Engineering conglomerate Larsen & Toubro will sell its plastics machinery business to Japan's Toshiba Machine as part of its strategy to exit non-core business and rationalise its portfolio. As per Ecconomic Times, L&T did not disclose the financial consideration for the sale of its subsidiary L&T Plastics Machinery, which manufactures and markets injection moulding machines, and reported a gross revenue of Rs 206 crore and net profit of Rs 11 crore in 2011-12.

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