WILLIAMSON MAGOR IN REVAMP MODE, TO OFFLOAD NON-CORE OUTFITS

Article Abstract:

The Rs1,500-crore tea and engineering conglomerate of Calcutta, the Williamson Magor (WM) group of the Khaitans, has undertaken a major corporate restructuring programme in consultation with McKinsey & Co. The revamping process is expected to be complete within one year. The programme envisages downsizing, strategic alliances and hiving off of some non-core divisions. Tea will remain as the focus area, with plans afoot for acquiring two more new gardens, Mathura and Bhatpara, increasing the number of gardens to 56 producing over 70 million kilograms of tea. The company, which has a major presence in the bulk tea segment, now plans to enter packet tea segments in the domestic and export markets. The dry cell capacity of Eveready, a group company, will be doubled to 760 million. Eveready will tie up with global battery majors for acquiring the latest technologies involving manufacture of new generation dry batteries and allied products. (gsh)

Comment:

Undertakes major corporate restructuring program in consultation with McKinsey

Organizational history, Processed Tea, Coffee and Tea Manufacturing, Tea (Beverage), Williamson Magor

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WILLIAMSON MAGOR NOT TO DIVEST STAKE IN INDIA FOILS

Article Abstract:

The Williamson Magor group of the Khaitans has decided not to divest its majority stake in India Foils Ltd (IFL), though IFL is deep into debt. These debts are mainly due to the heavy interest burden arising out of a Rs130 crore modernisation-cum-expansion scheme taken up by the company. This project was mainly funded by institutional loans and market borrowings. The problems aggravated with higher depreciation and low profitability. IFL manufactures aluminium foils. (gsh)

Comment:

Decides not to divest its majority stake in India Foils, though India Foils is deep into debt

Asset sales & divestitures, Aluminum Foil, Aluminum Sheet, Plate, and Foil Manufacturing, India Foils Ltd.

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WILLIAMSON MAGOR LINES UP WELFARE PROJECTS

Article Abstract:

The Williamson Magor group has introduced many social welfare projects to improve the standard of living of tea garden workers and natives of adjacent areas. The projects include setting up schools, hospitals and welfare schemes. The group has also set up the Assam Valley School near Tezpur. George Williamson (Assam) Ltd, a group company, has co-promoted the International Management Institute in New Delhi. (khr)

Comment:

Put up many social welfare projects to improve the standard of living of tea garden workers and natives in India

Public affairs, Civic and Social Organizations, Civic, Social & Fraternal Orgztns

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