Bilt To Set Up Paper Trading Company
Plans fresh acquisitions, social forestry
Delhi-based Ballarpur Industries Ltd. (Bilt) is working on a new growth strategy to be achieved through fresh acquisitions, trading and social forestry.
Bilt plans to acquire small local paper companies to ramp up capacities and plans to set up a new paper trading company. The idea is to import those varieties of paper that are not manufactured by Bilt in India. With this the company would be in a position to offer a wide range of products. In order to ensure regular raw material supply, the company is planning a social forestry programme on over 50,000 hectares – most likely in Malaysia.
Part of the strategy also involves being cost-effective, for which the company is looking at the closure of at least two plants and rationalization of manpower by 2012. According to L M Thapar, chairman, Bilt, `` Our aim is to be a regional paper major by 2012 with a capacity of around 1 million tonnes per annum. We have to be more competitive and therefore the need for additional capacities.``
