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.

About Laserwords

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 Chennai, India.

About SPi Global

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 Exchange (NYSE:PHI).

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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

RV Prasad
Group Corporate Communications
Murugappa Group
Tel : 044-25306497
Mobile : 9840120590