India“s Larsen & Toubro (L&T) on 26 October 2005 announced the sale of its glass container business to Ace Glass Containers of the C K Somani Group for an undisclosed sum. L&T will leave the packagin…
India“s Larsen & Toubro (L&T) on 26 October 2005 announced the sale of its glass container business to Ace Glass Containers of the C K Somani Group for an undisclosed sum. L&T will leave the packaging business as a result of the sale. L&T said the move was aimed at increasing the company“s focus on its core businesses in engineering, construction and IT. The Somani group“s Hindustan National Glass & Industries is the leading manufacturer of glass containers in India. The business will be transferred as a going concern. All the employees have been transferred to Ace Glass Containers and their conditions of service will remain unchanged. L&T began making flint glass containers in 1996 at Nashik, Maharashtra. The plant has a manufacturing capacity of 320 metric tonnes a day for the liquor, soft drinks and food industries.