State-owned Balmer Lawrie & Co is likely to acquire a domestic company offering tour operating services. The company is in active discussion with a mid-size tour company for the acquisition. The company is also in talks with runs tour packages to Europe, the Far East and South Africa. The entity’s travel services arm, Balmer Lawrie Tours and Travel has garnered revenues of Rs 1,132 crore during 2012-13, accounting for nearly 44% of the company’s net sales.
The company is likely to spend close to Rs 500 crore over next two-to-three years in new projects including the setting up of a logistics hub near Kolkata and Vishakhapatnam and a steel barrel plant in Navi Mumbai.
Balmer Lawrie has emerged as multi-activity, multi-technology, multi-location conglomerate with global footprints - along with its joint ventures, encompassing diverse interests in manufacturing and services sector viz. Industrial Packaging, Grease & Lubricants, Leather Chemicals, Tea, Travel and Tours, Logistics Infrastructure and Services and Refinery and Oilfield Services.