• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Moving out of non-core businesses

Chennai April 29 Sical Logistics Ltd has sold 8.68 acres land in Chennai suburbs to a real estate entrepreneur for Rs 40.79 crore, according to a press release from Sical.

This was part of the sale of Vanagaram Refractories Works Industries, a unit manufacturing refractory bricks, located at Vanagaram Village, in Ambattur Taluk, an industrial suburb to the west of Chennai.

In 3 phases

The sale progressed in three phases - settlement with labour, sale of plant and machinery as scrap for Rs 2 crore and sale of land, where Vanagaram Refractories' manufacturing unit was located.

The release, which quoted Sical's Chairman, Mr Ashwin Muthiah, said this was based on the decision to move out of Sical's non-core businesses. Sical is focussed on logistics and becoming a leading integrated multimodal logistics player.

Sical Logistics Ltd provides multimodal logistics services for bulk and containerised cargo-port logistics, inland logistics and offshore logistics.

More Stories on : Restructuring | Supply Chain Management | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
GAIL may infuse more funds in Dabhol project

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line