Kesoram Industries to Demerge its Tyre Unit
8 days ago
Kesoram Industries (KIL), a flagship company of the B. K. Birla group, is as old as its current chairman. It started its business from Cotton Mills then Rayon and eventually into Tyres and cement. Currently it is engaged in three distinct lines of business namely: Manufacturing & Distribution of cement through its “Birla Shakti” brandManufacturing & Distribution of Automotive tyre through its brand name “Birla Tyres”.Rayon Business through its wholly owned subsidiary, Cygnet Industries Limited. KIL’s cement business is located near the limestone deposits of Sedam and Basantnagar, having a total combined capacity of 7.25MTPA. Birla Tyres Limited (BTL), was incorporated in 2018, to takeover the tyre business. Earlier Transaction As a part of a debt restructuring exercise, the Company re-organised the Tyre Business during the Financial Year 2014 - 15. The company sold its one of the two tyre manufacturing facilities to JK Tyres. The manufacturing facility at Laksar, Distric
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