Kesoram Industries has received approval to demerge the company's Tyre Undertaking into Birla Tyres, to be implemented in terms of the scheme of arrangement between the company, Birla Tyres and their respective Shareholders and Creditors. The Board of Directors of the Company at its meeting held on December 04, 2018 has approved the same.
The demerger proposed is part of an ongoing exercise undertaken by Kesoram over the past few months in further realigning and recalibrating operations. The objective has been to transform each business into entities that are market driven in their approach.
Kesoram Industries is engaged in the manufacture of cement, tyres, tubes, rayon, paper, heavy chemicals and spun pipes. The company also in the business activities of Tyres, Cement, Rayon, TP and Chemicals.