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Home arrow News arrow Mergers and Acquisitions arrow Voith GmbH acquires L&T's stake in Joint Venture company
Voith GmbH acquires L&T's stake in Joint Venture company Print E-mail
Written by Ravi   
Tuesday, 27 October 2009

Cooperation and sourcing activities to continue.

Mumbai:  Larsen & Toubro (L&T) has sold its shares in Voith Paper Technology India Limited (VPTIL) to its long-term Joint Venture Partner, Voith GmbH, Heidenheim, Germany.

Voith will continue working closely with L&T in the field of paper machine production. Additionally, under a separate agreement, Voith will also source components and aggregates for their international and Indian requirements from L&T.

VPTIL was a 50:50 JV between L&T and Voith Paper GmbH , Germany, providing design, consultancy and other value-added services to the Indian paper industry that included setting up of complete paper plants.

Most of the Indian paper plants have been set up with Voith equipment. L&T has been associated with Voith for over five decades, and a significant portion of the equipment to the paper industry has been supplied by L&T as part of the offering by Voith to the Indian market.

VPTIL is currently executing three major orders from West Coast Paper, Century Paper and Tamil Nadu Newsprint Limited.

Last Updated ( Tuesday, 27 October 2009 )
 
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