2 January 2007
For the fiscal year ending 2006, the Group's turnover stood at US$ 9.7 billion, with a market capitalisation of US$ 15 billion. Driving the growth of the Aditya Birla Group are 82,000 committed employees, spread over 15 countries across the globe.
A win-win situation for the Aditya Birla Group and Hubei Jingwei
In line with the our business philosophy of consolidation and reach, the Group's flagship company Grasim Industries Limited, along with Thai Rayon PT., Indo Bharat Rayon, Indonesia formed a JV with Hubei Jingwei Chemical Fibre Company, China for Viscose Staple Fibre (VSF). The JV leverages on the tremendous synergy between the Jingwei Group's strong presence in the textile spinning sector and our Group's dominance in the VSF business.
Aditya Birla Group concludes MoU for Rs. 1,200 crore cement project
Closer to home, Grasim Industries Limited, a flagship company of the Aditya Birla Group and the state government of Orissa concluded an MoU to set up a 3.5 million tpa integrated cement plant in the Sundergarh District in Orissa. The plant will involve an investment outlay of Rs.1200 crore and is expected to be the largest cement project in Orissa.
Hindalco in a JV with Almex
Hindalco, an Aditya Birla Group company, entered into a joint venture partnership with Almex USA Inc. for the manufacture of high strength aluminium alloys for applications in the aerospace, sporting goods and surface transport industries. Apart from the synergies and immense business potential, the Group's innate need to ramp up its portfolio of value-added products formed the premise of the JV.
The Aditya Birla Group to invest US$ 350 million for plantations and pulp plant in Laos
In a bid to ensure that the Group's future expansion needs for VSF are met, the Group invested US$ 350 million in Lao People's Democratic Republic (Laos) for setting up of a project to raise pulp wood species plantations and a pulp plant. The backward integration strategy from the plantation to the final VSF production is expected to consolidate the Group's leadership position in the cellulose fibre business.
Hindalco to set up world-class aluminium smelter
Hindalco, the Aditya Birla Group's flagship company, entered into an MoU with the Madhya Pradesh government for a greenfield aluminium smelter in Siddhi district. The aluminium smelter, at an investment of Rs. 7,700 crore, is expected to create 4000 to 5000 new jobs and generate another 12,000 jobs indirectly.
TransWorks announces success of bid
Demonstrating the Group's commitment to emerge as a leading global BPO services provider, TransWorks Information Services Ltd. (TransWorks), an Aditya Birla Group company, announced the successful completion of its bid, through a wholly-owned subsidiary, AV TransWorks Ltd., for Minacs Worldwide Inc. (Minacs). The integrated expertise of both companies will provide powerful and compelling BPO solutions to clients.
Aditya Birla Group increases equity stake in Idea
The Aditya Birla Group acquired the entire 48.14 per cent holding of the Tata Group in Idea Cellular Ltd. With over the 10,000,000 subscribers, Idea's subscriber base approximately covers 45 per cent of India's population. Embarking on a 'success beyond numbers strategy', Idea provides its customers an unparalleled mobile experience synergising innovative services with revolutionary and affordable tariffs. No small wonder that Idea has raised the bar in customer care and satisfaction.
Madura Garments, making the right statement
Madura Garments, the Aditya Birla Nuvo's garments division, is a market leader in branded apparel. It offers a wide range of ready-to-wear clothes to cater to every market segment. Its power brands are Van Heusen, Louis Philippe and Allen Solly and its popular brand is Peter England. This year proved to be a landmark year for Van Heusen, it achieved the distinction of becoming the largest brand in the country. Allen Solly, the pioneer in Friday dressing, was the star of corporate dressing. The star cast in Madhur Bhandarkar's movieCorporate donned Allen Solly garments, known for their contemporary style at the workplace.
Aditya Birla Group announces ESOPs
In a move to further deepen ownership and accountability, the Group announced Employee Stock Option Plan (ESOPs) in four of its listed companies — Hindalco, Grasim, Aditya Birla Nuvo and UltraTech. The ESOP scheme not only bolsters the Group's employer branding initiatives but also gives an edge in the Group's efforts to attract and retain talent.
Going beyond business, the Group is engaged in community work, in various meaningful, welfare-driven initiatives that distinctly impacted the quality of the weaker sections of society. Carried out under the aegis of the Aditya Birla Center of Community Initiatives, the Group's community initiatives touched the lives 5 million people in over 3,700 villages. Tens of thousands of villagers now seem self-assured, confident and happy at being able to move towards a sustainable livelihood. There is a new found dignity among them.
For us, this is a way of living our values. A way of transcending the conventional barriers of business to send out a message that "we care".
We look forward to receiving your feedback on this article. Share your comments with us at: email@example.com