Orient Abrasives Splits Businesses
10 December 2010
Indian-based Orient Abrasives is demerging its refractory business from other businesses such as abrasives. In a television interview managing director SG Rajgarhia, explained that its refractory business is to be run as a new company called Orient Refractories Ltd. The refractoris business is a highly profitable venture and the abrasives grains division will continue to operate alongside its other power related activities.
The company’s reason for the split is that each business faces different challenges and opportunities and are better off as separate entities. The refractories business is on the up but abrasive grains and the power business has been struggling though the managing director is optimistic for substantial growth next year.