RPG's stake will be acquired by BTP plc, UK, which will now hold the entire 100 per cent stake in BTP India Ltd. The Chennai-based BTP manufactures specialty leather chemicals, footwear components, biocydes and research chemicals.

The price at which the shares were acquired was not disclosed. The total capital of BTP India is Rs 38 crore.

BTP India, previously called RPG-BTP, was a 50:50 joint venture between BTP plc, UK and RGP. The RPG group had previously diluted its stake in the company from 50 per cent to 26.32 per cent, after which the company was renamed BTP India Ltd.

It may be recalled that the RPG group took strategic decision to exit from some of itsnon-core business to focus more sharply on its core business like power, including generation, transmission and distribution, tyres, retail, life sciences, communications, carbon black and cables.

Among the other strategic exits from no-core businesses, the RPG group had divested its stake in RPG-Ricoh, Sulzer India, Bayer, South Asia Tyres, as well as brought in Reliance as co-promoter in India Polyfibres.

This focus has already started yielding results, sources said. In the power sector, though CESC Ltd reported a huge loss of Rs 132 crore last fiscal, its transmission company KEC International could increase its net sales from Rs 695.09 crore to Rs 1,009.80 crore and profit from Rs 37.03 crore to Rs 46.85 crore in 1998-99. KEC International is considered to be Asia's number one and world's number two transmission company and 70 per cent of its income come from abroad.

RPG Transmission Ltd is awaiting completion of merger formalities with KEC International and RPG Cables, a major manufacturer of powerand telecom cables, are improving their bottomline.

RPG agro sector has recently been renamed life sciences sector which include pharmaceutical heavyweight RPG Ltd till recently known as Sarle India Ltd. This company is also a major producer of agro-chemicals, particularly pesticides.

The other company in life science sector is Kochi-based Harrisons Malayalam Ltd, India's largest producer of natural rubber and second largest producer of tea in South India. HML's plantations are located in Kerala and Tamil Nadu. The company also enjoys the reputation of having the highest productivity in the natural rubber sector in the country.

The tyre sector comprises Ceat which has reported a 22.3 per cent rise in net profit against a turnover of Rs 1,166 crore. The company's joint venture in Sri Lanka and RPG's first overseas manufacturing venture, has proved highly successful, sources pointed out. The joint venture has recently acquired Kelany Tyres in Sri Lanka and is poised for major expansion in manufacturingcapacity.