Birla Tyres set to roll again, acquisition finalised by consortium of Himadri and Dalmia

The Telegraph Online

2 min read

Birla Tyres set to roll again, acquisition finalized by a consortium of Himadri and Dalmia.

Expert Analysis:

The consortium of Himadri and Dalmia took possession of the Birla Tyres plant and machinery at Balasore, Odisha.
The consortium partners paid Rs 306 crore to the creditors and acquired control of Birla Tyres within 15 days of the pronouncement of the order.
Birla Tyres will become a subsidiary of Calcutta-based Himadri, the third-largest producer of carbon black, a key ingredient in tyre making.
The objection to using the “Birla” name by the successful resolution applicants was rejected by the NCLT.

Takeaways

Production Capacity: The present capacity of the Balasore unit is 400 tonnes per day. The consortium partners aim to roll out electric vehicles.
Cost and Time Efficiency: Himadri estimates that starting from scratch with a greenfield unit would have taken 24 months and cost Rs 3,100 crore.
Brand Acquisition: This brand has a three-decade recall in the market, which can significantly reduce the time to establish a presence.

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