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Japan-based Toshiba Machine acquires L&T Plastics Machinery
SME News, Monday, Aug 27, 2012 15:58:54 PM IST
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CHENNAI: Larsen & Toubro (L&T) announced that it divested its complete stake in L&T Plastics Machinery Ltd to Toshiba Machine of Japan.
This decision is part of the company's strategy of leaving non-core businesses.
L&T Plastics Machinery is a wholly owned arm of L&T and it produces injection moulding machines. The firm posted Rs 206-crore turnover and profit of Rs 11 crore in the previous financial year 2011-12.
