HEADLINES
JOBS
COM:PORT
POLICY POLICE
ARCHIVES

3M hikes stake in Birla 3M

3M now own over three-quarters of 3M Birla, its joint venture with the Birla group.

3M, the US-based $14-billion, bought 25 percent more stake in the company from two companies of the Yashovardhan Birla group to raise its equity stake to 76 per cent at Rs 201.16 per share.

It bought 2.21 million from Scimitar Investment and Trading Company Private Limited and 609,000 from Shearson Investment and Trading

T O D A Y

• Big zero for small fry • 3M raises stake • UP's software potential • Schoolnet India now!

Company. Birla's stake in the joint-venture has slipped to 7.7 per cent though Yashovardhan Birla will continue as chairman of the board of directors.

Birla 3M, established in 1988, has a manufacturing facility in Bangalore. A second plant is being established in Pune. The company manufactures speciality tapes, adhesives, telecom connectors and autographics. At present, it markets over 800 products for diverse use in the market.

-Compiled from the Indian media

Tell us what you think of this story