B & C Announces Proposal for IT Park

Saturday, February 03, 2007

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.