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Our Bureau

New Delhi , Aug. 20

FENNER India on Friday announced the completion of its business restructuring with the hiving off of its conveyor belting division to a new company under the name Fenner Conveyor Belting Private Ltd.

The manufacturing facility was formally inaugurated at a new location near Madurai in the presence of Mr Raghupati Singhania, Chairman of Fenner India Ltd, and Mr Mark Abrahams, Chief Executive Officer of Fenner PLC, UK.

Fenner India Ltd is a major player in power transmission systems and oilseals with several plants in south India.

The JK Group (Hari Shankar Singhania Group) acquired equity holding in Fenner India in 1987 and has been managing its affairs since then. Since then the company's turnover has grown from Rs 35 crore to about Rs 300 crore. With this restructuring JK Group has acquired majority holding in Fenner India Ltd.

More Stories on : Restructuring | Automobile Components

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