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Liberty Shoes eyes Indian leather business

07/04/2004

India-based Liberty Shoes is currently in talks with Hindustan Lever Ltd (HLL) regarding the acquisition of its leather business.

 

HLL announced in February 2004 that it was looking for a buyer for the division, which has manufacturing units in Mettupalayam, Pondicherry and Chennai, and revenues of around Rs150 million ($3.3 million) a year.

 

Speaking to the local press, Liberty Shoes chief operating officer, Adarsh Gupta, said the  acquisition would help consolidate the company’s position in the leather and footwear market and boost its turnover by around Rs1 billion ($23 million). He added the company’s merchant bankers were talking to HLL on its behalf.

 

For past story, see leatherbiz.com, ‘Major Indian leather manufacturing business up for sale - 19.02.03’.

 



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