Aditya Birla Power Ventures has now become a subsidiary of Grasim Industries. However, the company has reported that the acquired company has not pursued any operation at present.
Recently, Aditya Birla group, the world's largest producer of viscose staple fibre (VSF) with a 24 percent global share - has acquired Swedish specialty pulp maker Domsjo Fabriker for $340 million, thereby boosting its captive raw material supply for its VSF business.
Grasim Industries is the flagship company of the Aditya Birla Group. Starting as a textiles manufacturer in 1948, today Grasim’s businesses comprise viscose staple fibre (VSF), cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90 per cent of its revenues and operating profits.
