Triveni announces scheme of demerger of steam turbine biz

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Triveni announces scheme of demerger of steam turbine biz

Triveni Engineering & Industries today announced the scheme of demerger of the steam turbine business.

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Excerpts from Reporter's Diary on CNBC-TV18 Watch the full show » RELATED NEWS Expect 20-25% growth in turbine biz in FY10: Triveni Engg Triveni Eng Q1FY10 net profit up 200% at Rs 72.9cr BSE | NSE 01/01/70 Are Mutual Funds betting on ?

Triveni Engineering & Industries , one of India's leading companies engaged in the manufacture of sugar and engineered-to-order mechanical equipment, such as steam turbines, high speed gears and water and wastewater treatment equipment, today announced the scheme of demerger of the steam turbine business.

Triveni Turbine (TTL) will allot Triveni shareholders one share for every share held. The board approved the demerger of the steam turbine business of Triveni to TTL with effect from 1st October, 2010. 

Dhruv Sawhney, CMD, Triveni Engineering said, the demerger will give clear management focus. The move, he says, will also give flexibility to get strategic partner. The company is looking for partnership which will add value to business and is looking at Europe, US, and Parts South-East Asia for expansion.

On next page: Verbatim transcript of the exclusive interview with Dhruv Sawhney on CNBC-TV18.