Larsen & Toubro
| Larsen & Toubro Ltd.
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | USY5217N1183 |
| founding | 1938 |
| Seat |
 India , Mumbai
|
| management | Anilkumar M. Naik ( CEO ) |
| Number of employees | 45,000 (2011) |
| sales | 11,680,000,000 USD |
| Branch | Conglomerate , u. a. Construction, shipbuilding, construction machinery |
| Website | www.larsentoubro.com |
Larsen & Toubro is an Indian company based in Mumbai . The company is listed in the BSE Sensex and DBIX India stock indices . Larsen & Toubro is the largest construction and engineering company in India. The company employs 45,000 people in manufacturing facilities and offices.
In addition to construction and engineering, Larsen & Toubro is active in the following sectors: shipbuilding, military, financial services, energy, IT, medical products.
history
The company was founded in 1938 by the two emigrated Danish engineers Henning Holck-Larsen and Søren Kristian Toubro. The founding legend has it that their first office was so small that they could only use it alternately. Their original business concept was to import heavy machinery from Europe.
Before Indian independence
The company started as a representative for Danish dairy equipment. After the start of the Second World War in 1939 and the resulting import restrictions, the two Danish founders started a workshop and carried out work on behalf of customers. Germany's invasion of Denmark in 1940 abruptly ended the supply of Danish machines. As a result, the two partners were forced to independently manufacture products for the dairy industry. These products were successful from the start and L&T became known as a reliable supplier with high standards. During the war there was a high demand for work and repairs on ships. L&T saw this as a business opportunity and founded Hilda Ltd., which is active in this area. The company also established two more repair and production facilities. The sudden internment of German engineers working at a soda factory in India on suspicion of espionage gave L&T the opportunity to penetrate into the field of factory construction.
In 1944 the company ECC, which specializes in construction projects, was incorporated into L&T (currently ECC is the construction division of L&T). Around the same time, the company decided to work more closely with international companies. In 1945 L&T was a representative for several British manufacturers of production equipment for soap and oils. Food and glass. In addition, in 1945 a contract was signed with the American Caterpillar Tractor Company to market their earth-moving machines in India. At the end of the war, large quantities of Caterpillar machines were available on the market as war relics at attractive prices, but the offer exceeded the financial resources of the two Danish partners. To increase the company's capital, Larsen & Toubro Private Limited was founded on February 7, 1946.
After Indian independence
The independence and increased demand for technology and experience provided L&T with a good opportunity to strengthen and grow the company. Offices were opened in Kolkata (Kalkuta), Chennai (Madras) and New Delhi. In 1948, 22 hectares of jungle and marshland were acquired in Powai. This uninhabitable area has been converted into an attractive, highly productive factory site. In December 1950, L&T became a public company with equity of Rs.2 million. The sales turnover for the same year was 10.9 million. Notable clients during this period were the Amul dairy plant in Anand and the Rourkela steel mill. After the successful completion of these orders, L&T was able to establish itself as the largest assembly company in the country. In 1956, much of the Bombay business office moved to the ICI building in Ballard Estate. This building was later bought by the company and renamed the L&T House. The company's headquarters are still there today. The 1960s were characterized by rapid company growth and many new projects were started: UTMAL (1960), Audco India Limited (1961), Eutec Welding Alloys (1962) and TENGL (1963). In 1976, Holck-Larsen was awarded the Ramon Magsaysay Prize for International Understanding to honor his contribution to the development of Indian industry. In 1978 he resigned from his position as CEO.
In 1997 L&T set up a joint venture with John Deere , in which each company owned 50%, to manufacture tractors in India. In 2005 Larsen & Toubro sold its shares in Deere.
In 1999 a joint venture was established with Case to manufacture construction machinery in India.
In 2014, L&T won the public tender to design, build and maintain the statue of the unit in Gujarat state.
swell
- ↑ Archived copy ( memento of the original dated February 23, 2007 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ L&T set to sew up tractor venture with John Deere
- ↑ _http: //articles.economictimes.indiatimes.com/2005-07-30/news/27500493_1_l-t-john-deere-cement-business-tractor-joint-venture
