• PAGE ONE
• INDEX
• HOME

Rhone-Poulenc announces VRS at its Bhandup unit

Our Bureau

MUMBAI, July 5

RHONE-Poulenc India Ltd has announced voluntary retirement schemes (VRS) for 310 employees of its Bhandup plant subsequent to its closure.

RPIL's staff strength has now been reduced to 653 from the original 963 following the VRS.

The company has not yet made a decision to sell the 10-acre land at Bhandup.

Addressing shareholders her on Thursday, Mr Ajay Piramal, Chairman, Rhone-Poulenc India, said the company has sold the Rhone-Poulenc house to the Aditya Birla group for a consideration of Rs 84.5 crore. The company was recently acquired by Nicholas Piram al India Ltd through its subsidiary NPIL Fininvest Ltd.

The cost towards the various VRS schemes would be Rs 29 crore, said Mr J.C. Jani, Managing Director, Rhone-Poulenc India.

The new management is reviewing the supplier base and procurement systems in an effort to reduce costs and boost bottomline, Mr Piramal said.

The merger of Rhone-Poulenc India with Nicholas Piramal India would be completed by October subsequent to the acquisition in December last year, he said.

The company is likely to introduce an antibiotics molecule by the last quarter of the fiscal year, Mr Jani said. Other products include a cough expectorant, Fenargen Plus and Flagynor.

``We plan to introduce line extensions of different established brands which will help to improve brand standing and focus on identified therapeutic categories,'' said Mr Piramal.

Pic.: Mr Ajay Piramal, Chairman, Rhone-Poulenc (India) Ltd, Mr J.C. Jani, Managing Director, and Mr M.R. Pal, Director, at the company's AGM in Mumbai on Thursday.

Picture byShashi Ashiwal