Group announces sale of Laserwords
- Chennai, 4 November, 2011: The
Murugappa Group entities (M/s Carborundum Universal Ltd, Parry
Agro Industries Ltd, Ambadi Enterprises Ltd and few other
entities of the Group) have divested their total shareholding
in Laserwords Private Limited (“Laserwords”), in favour of
SPi Global (“SPI”), a Philippines based BPO. Laserwords is
an experienced independent player providing technology driven
solutions for print and media production.
The transaction is in line with the
Murugappa Group’s overall strategy to divest non-core assets and
focus on core businesses.
ENAM Securities acted as the
advisor, and AZB & Partners acted as legal advisors for
Murugappa Group for this transaction.
Laserwords is an experienced
independent player providing technology driven solutions for print
and media production. The company enjoys long term relationships
with leading global publishers and closely works with them to
create educational/commercial print & media materials of the
highest quality for students, teachers and industry.
Laserwords services publishers
primarily in US & Europe in segments including K-12, Higher
Education, Academic, Professional & Trade, Data conversion,
New media and Software Products & Services. The company has
presence in various areas of pre-press publishing including
Typesetting, Software & Software services, Copyediting, Full
Service Project Management (FSPM), Proof reading, Indexing,
Graphics, XML Conversion and Keyboarding.
Laserwords has state of the art
infrastructure at its facilities, with more than 1,300 employees
spread across four locations in the USA and three locations in
SPi Global is a leading
full-service BPO provider with offices and facilities across North
America, Europe, and the Asia Pacific region. SPi Global has over
15,000 employees delivering a wide range of Knowledge Process and
Customer Relationship Management solutions to diversified markets,
including financial services, healthcare, legal, and publishing.
SPi Global consistently improves operating efficiency, lowers
costs, and helps to strengthen the competitive position of more
than 500 clients.
SPi Global is a wholly owned
subsidiary of the Philippine Long Distance Telephone Company (PLDT),
the leading telecommunications provider in the Philippines. PLDT
is listed on the Philippine Stock Exchange (PSE: TEL), and its
American Depository Shares are listed on the New York Stock
About the Murugappa Group
Founded in 1900, the Rs. 17051
Crores (USD 3.8 billion) Murugappa Group is one of India's leading
business conglomerates. The Group has 29 businesses including eight
listed Companies actively traded in NSE & BSE. Headquartered in
Chennai, the major Companies of the Group include Carborundum
Universal Ltd., Cholamandalam Investment and Finance Company Ltd.,
Cholamandalam MS General Insurance Company Ltd., Coromandel
International Ltd., Coromandel Engineering Company Ltd., E.I.D.
Parry (India) Ltd., Parry Agro Industries Ltd., Tube Investments of
India Ltd., and Wendt (India) Ltd.
Market leaders in served segments
including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs,
Fertilizers, Plantations, Construction, Bio-products and
Nutraceuticals, the Group has forged strong joint venture alliances
with leading international companies like Groupe Chimique Tunisien,
Foskor, Cargill, Mitsui Sumitomo, Winterthur Technology Group and
Morgan Crucible. The Group has a wide geographical presence panning
13 states in India and 5 continents.
Renowned brands like BSA, Hercules,
Ballmaster, Ajax, Parry’s, Gromor and Paramfos are from the
Murugappa stable. The organization fosters an environment of
professionalism and has a workforce of over 32,000 employees.
For further details please contact
Group Corporate Communications
Tel : 044-25306497
Mobile : 9840120590