Kirloskar Brothers go for restructuringJune 3rd, 2008 - 4:45 pm ICT by IANS
Mumbai, June 3 (IANS) India’s leading water management solutions provider Kirloskar Brothers Limited (KBL) has decided to restructure itself into nine business sectors aiming to achieve a turnover exceeding $1 billion. Announcing this Tuesday, a company spokesperson said the business group worth Rs.20 billion will now have different sectors for products, services and systems.
“The company wants to be among the first five global water management solutions firms by 2011,” the spokesperson said.
Giving details of the regrouping, the spokesperson said the firm would now club all major and minor irrigation and rural electrification works in the irrigation and rural electrification division, while the water supply, water treatment, sewage treatment, sewage pumping stations and desalination plants would fall in water resource management.
Similarly, refinery, petrochemicals, fertilizers, oil and gas exploration and transportation will have a separate division called oil and gas division. Apart from these, two major divisions will comprise sectors including power, industry, building and construction, marine and defence and post-sales service.
All these sectors would come into effect by the end of the first week of June, KBL director R.K. Srivastava said, adding that apart from these, the group will also have three new corporation functions department.
They will be corporate global sourcing (CGS), corporate business development and strategy dealing with mergers and acquisitions (CBDS) and corporate global marketing (CBM).
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