Areva T&D put on block

Written by Corporate Bureau | Mumbai | Updated: Jul 3 2009, 06:32am hrs
Shares of Areva T&D India Ltd, an arm of French power equipment manufacturer Areva France SA, plunged 3.80% on the BSE on Thursday after its parent announced plans to dispose of its T&D businesses globally. On its Website, Areva France said it is disposing of its transmission & distribution (T&D) businesses worldwide, including in India, to part finance the group's long-term development plan.

Arevas Indian arm is engaged in the T&D segment, especially in the manufacture of 765 kv lines. Of Areva T&D global turnover of 5,065 million euros in 2008, the Indian arm contributed around 8% or 471 million.