Kesoram to spin off Birla tire business

Kolkata, India – Indian company Kesoram Industries is spinning off its tire business to create a separate Birla Tyres Ltd (BTL) entity, the company announced 4 Dec.

The “demerger” process is set for 1 Jan 2019, subject to the approval of authorities, and BTL will be listed on the Kolkata Stock Exchange.

The move is part of Kesoram’s ongoing restructuring, which it has undertaken in the past few months.

Kesoram, part of the Basant Kumar Birla group of companies, owns three businesses of tires, cement and rayon.

Through the…

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