Consumer giants Hindustan Lever (HLL) are reported to be considering ending several of their operations, including leather, in an effort to streamline their product portfolio.
‘HLL are exploring options like joint ventures or divestments for leather products, mushrooms (both of which are exported), nickel catalysts, adhesives, starches and hybrid seeds’, a company spokesperson said.
HLL had acquired the manufacture and sale of shoe uppers and leathergoods following HLL’s amalgamation with Pond’s India.
The combined turnover of the leather and mushroom units, which employed about 1,000 workers, during 1999-2000 was close to Rs100 crore (US$20.87 million), according to sources.
NB 1 crore = 10 million
