HLL To Quit Starch Biz Business

Mumbai, October 25: | Updated: Oct 26 2002, 05:30am hrs
After divesting its mushroom and leather export businesses, Hindustan Lever plans to sell its starch business, which is a part of its speciality and bulk chemicals business.

As part of an ongoing restructuring process, we have identified our starch business as a non-core activity. We plan to sell off this business and are looking for a buyer, a senior HLL official said, adding turnover of the starch business was very miniscule to have any impact on HLLs books. The other businesses of HLLs speciality chemicals include aroma chemicals, refined glycerine etc. The fertiliser and bulk chemicals operations will continue to be a part of Hind Lever Chemicals in which HLL holds a 50 per centy stake.

HLL has disposed a number of its non-core businesses in recent past. After exiting from its seeds business, it has completed the disposal of the Diversey Lever business, while the leather export business has been transferred to Ponds Exports and mushroom export business to KICM Madras for a potential JV/divestment.