Kesoram Industries is planning to hive off manufacturing facility at Haridwar as part of its tyre business restructuring amid speculations that Apollo Tyres and MRF are in race to acquire the plant.
A committee of directors, which was constituted by the company’s board on June 26, 2014 to look for options to reorganise and realign company’s existing businesses has recommended the move.
Kesoram Industries is engaged in the manufacture of cement, tyres, tubes, rayon, paper, heavy chemicals and spun pipes. KIL is also listed on Societe de la Bourse de Luxembourg stock exchange.
