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CORPORATE: L&T sells 50% Voith Paper stake to Voith AG.

Business Line

from BUSINESS LINE, October 27, 2009 Chennai, Oct. 26 - Larsen & Toubro Ltd on Monday said that it has sold its 50 per cent stake in Voith Paper Technology India Ltd to its joint venture partner Voith AG of Germany.

Voith AG held the balance 50 per cent stake. The sale is effective October 1.

Voith Paper Technology provided design, consultancy and other value- added services to the Indian paper industry that included setting up of complete paper plants.

It is currently executing three major orders from West Coast Paper, Century Paper and Tamil Nadu Newsprint and Papers Ltd, an L&T press release said.

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