SIEL RESTRUCTURING - SPLIT RUN

Article Abstract:

The Rs1,250-crore SIEL group comprises Rs800-crore SIEL with interests in edible oils, chemicals and sugar; SIEL Airon and Jay Engineering producing white goods and engineering products and Usha International. Paying heed to McKinsey report, SIEL has decided to bring back focus into its business. Three separate companies are to be created for sugar, chemicals and edible oils. The assets and liabilities will be divided and brand names transferred. SIEL Aircon manufacturing air conditioners will be spun off into a joint venture. Jay Engineering's engineering products division is to be hived off. It plans to take up manufacture of premium variety sewing machines and fans. SIEL's chor alkaline and vanaspati plant has been shifted from Delhi to Rajpura in Punjab. SIEL is saddled with debt of Rs230 crore and its net worth is Rs270 crore. The restructuring requires Rs54 crore and another Rs35 crore is needed to take SIEL's stake in SIEL Honda to 40 percent. (uh)(psr)

Comment:

The Rs1,250-crore SIEL group comprises Rs800-crore SIEL with interests in edible oils, chemicals and sugar; SIEL Airon and Jay Engineering producing white goods and engineering products and Usha International.

Organizational history, Chemicals & Allied Products, Chemical Manufacturing, Sugar and Confectionery Products, India, CHEMICALS AND ALLIED PRODUCTS, Sugar & Confectionery Products, Sugar and Confectionery Product Manufacturing, Fats and Oils, Fats & Oils, Starch and Vegetable Fats and Oils Manufacturing, Chemicals, Sweeteners, Fats and oils industry, SIEL

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SJCE-STEP TO SET UP SEED CENTRE

Article Abstract:

The SJCE-STEP of Mysore plans to establish a Software Entrepreneurs and Employee Development Centre (SEED) in Mysore. It has felt the need for trained manpower and aims at promoting employee and entrepreneurship development in the information technology (IT) sector. The proposed centre will offer cost- effective manpower training at the lower end like data entry, medical transcription, local area network installation and maintenance. SJCE-STEP has sought aid from the Government of India for setting up the centre. It is holding talks with Larsen & Toubro for developing a concept centre, as a part of the proposed SEED project, to offer facilities to entrepreneurs at affordable charges. (um) (kvr)

United States, Personnel administration, Employee Training, SJCE-STEP

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