Orient Paper to Demerge Consumer electric biz into Separate firm

Orient Paper & Industries said that board of the company has given in-principle consent for vertical demerger of consumer electric business of the company into a wholly owned subsidiary. 

 

“The board has also given in-principle consent for vertical demerger of consumer electric business of the company into a wholly owned subsidiary (to be incorporated), subject to the final approval of the board of the proposed terms of the demerger,” the company said in a filing to the Bombay Stock Exchange. 

 

The company said the demerger is to facilitate both paper and consumer electric businesses to focus on their core competencies and to pursue their independent strategies. The timing of the demerger coincides with the improvement in the company’s paper business performance and sustained steady performance of the consumer electric business, it added.

 

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