Last month Larsen & Toubro (L&T), India’s largest engineering and construction conglomerate, announced that it had sold its 50% stake in Kolkata-based Voith Paper Technology to its joint venture partner, Voith of Germany. Voith, an engineering firm founded in 1867, already held a 50% stake.
Voith Paper Technology provides design, consultancy and other value-added services to Indian paper manufacturers, and is a global leader in the industry. It is currently fulfilling three major orders from West Coast Paper, Century Paper and Tamil Nadu Newsprint and Papers, L&T said.
L&T has been associated with Voith for over five decades, making much of the equipment which Voith has supplied to Indian paper plants.
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