Birla to combat financial pressures with expansion, management restructuring
After ending the 2010-11 financial year with a net loss of Rs 2.1 billion (£29.1 million), India’s Kesoram Industries has announced its intention to restructure the management of its Birla Tyres business unit and increase its focus on passenger car and two-wheeler tyre production. In a statement, Kesoram director (and daughter of company head Basant Kumar Birla) Manjushree Khaitan said “the company is hopeful of rebounding this year as it is in the process of putting in a recovery plan in place which includes among other things a strong management team for the tyre division, higher capacity utilisation, a more aggressive marketing policy and a change in the product mix towards high margin passenger car and two-wheeler tyres.”