Business Daily from THE HINDU group of publications
Sunday, Jul 06, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Sunday, Jul 06, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Outlook Industry & Economy - Power
Our Bureau Hyderabad, July 5 L&T, the engineering and construction major, foresees a huge opportunity in nuclear business, especially in reactor manufacturing if India signs the Indo-US nuclear deal. “At present, this segment is contributing 3 per cent to the turnover. We expect that it will go up to 7 per cent in the next few years provided that the deal is signed,” Mr Anil M. Naik, Chairman and Managing Director, told reporters. Mr Naik was here to receive the V Krishnamurthy Award for excellence in Management at Centre for Organisation Development on Saturday. He announced that the restructuring of the company would be completed in the next few months and would become operational by April 1, 2009. Earlier speaking on ‘Building a global enterprise’ to an audience comprising entrepreneurs and managers at the centre, he said the $7-billion company has drawn up a huge restructuring plan. The plan envisaged building of 12 verticals, which included diversifying into new areas with an aim of achieving a turnover of $20 billion. The global businesses of L&T contribute 20 per cent. “We would like to increase this share to 25 per cent in the next two years,” he said. “We don’t call ourselves a global company yet. We are a multi-national company. We are expanding to new geographies, while going aggressive in countries such as Saudi Arabia, Qatar and Kuwait,” he said. AcquisitionThe company is in the process of acquiring a company in the next six months to tap opportunities in the deep-sea drilling area. “We have recently acquired a Malaysian company with interests in Australia, China and Indonesia,” he said. This was in tune with the company’s plan that didn’t want to depend only on one economy. More Stories on : Outlook | Power | Engineering | Larsen & Toubro Ltd
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