Sunday
Consulting biggies, BCG, Bain and Mckinsey are back in the limelight.
Engineering and construction giant Larsen and Toubro (L&T) has already implemented two five-year plans to reposition the company, which was heavily into engineering, procurement and construction segments, with a large exposure to commodity businesses such as cement and ready-mix concrete, to a more focused, value-added engineering company
L&T had earlier sought help from BCG to devise a five year plan, as per the plan, L&T divested its cement business in favor of the Aditya Birla Group. Recently, L&T also divested its ready-mix concrete business in favor of Lafarge SA.
The second five-year plan will get over by March 31, 2010. As per the second plan, L&T’s target was to reach a business volume of Rs 35,000 crore annually. L&T had managed to complete Rs 38,000 crore last year and expects to cross Rs 42,000 crore this year. Thus achieving 15-20 per cent more than the proposed target.
L&T will initiate its third round of major business restructuring in 2010 and has appointed consultants McKinsey and Bain to guide it, as also in the succession plan, Further, L&T’s chairman A M Naik also plans to retire in September 2012
Following News Media Article were referred for this story
L&T restructuring plan to be implemented next year
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