Best & Crompton, a leading engineering
company with its headquarters in Chennai, announced its
plans to develop a 2 million sq. ft. IT Park in Ambattur, North
Chennai.
Engaged in power transmission and distribution, products manufacturing
and engineering consultancy services, the company is also diversifying
into textiles, with a factory in Arakonam. It has joint venture
operations in its main line of business in
Nigeria
and
Malaysia. In India,
it has tie-ups with Weir Pumps of UK, STAI of Italy and Alstom Hydro
of France. It also shares a technical partnership with Alireza in
Alkhobar in Saudi Arabia.
The proposed IT Park at Ambattur will be built on the premises
it is presently occupying. The existing operations will be re-located
to another factory in the vicinity. Amabattur is emerging as an
IT hub as it is already home to several IT and BPO centres and
a few more are in the pipeline.
Best and Crompton has also received approval for a textile
SEZ in Hosur and a machine tool facility at Sriperambedur in Tamil
Nadu.
The Company was acquired by the Polysindo group in Indonesia
in the early nineties and is held through a holding company in
Hong Kong. Best
and Crompton had a fresh public issue through which NRI
C.Sivasankaran of Sterling Infotech acquired a 14.95%
stake on a preferential basis.
Interestingly, Sterling has tied up with TrueValue homes for
building luxury residential apartments on prime property off Cenotaph
Road, Chennai worth .Rs. 110 crore bought over from Best and
Crompton in April last year.
