Kesoram Industries not to split

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Kolkata, Jun 26 (UNI) Diversified Kesoram Industries will not be split, its Chairman B K Birla today said.

'' There is no question of splitting the company. Both Kumar Mangalam and Manjushree will run the company in my absence, '' Mr Birla said reversing the company's earlier decision.

Speaking after the annual shareholders meeting, the octogenarian industrialist assured that the shareholders' interests would be protected.

Mr Kumar Mangalam Birla, head of the Aditya Birla group, is the grandson of Mr B K Birla, while Ms Manjushri Birla is his daughter.

''Kumar Mangalam wants me to continue for the next ten years, but I will be happy working till 90, '' Mr Birla, who is now 88, said.

Mr Birla said it was up to Manjushree and Kumar Mangalam Birla to decide how they would run the company.

''One of them may become Chairman and the other Vice-Chairman and look after separate units, '' he said.

Earlier, Mr B K Birla had plans to split the group firms between his two daughters and grandson.

He said the capacity expansion in tyre and cement units of Kesoram were on schedule.

The company was setting up three new tyre units in Uttaranchal to take tyre-making capacity to 734 ton per day from 252 ton at present.

The company was also adding another 1.65 million ton to its cement-making capacity, taking it to 6.2 million ton per annum by 2008 from 4.5 million ton, he said.


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