Company Background - Larsen and Tourbo

The birth of Larsen & Toubro was happened in the year of 1946 as a private ltd company. Earlier it was a partnership firm founded by Mr. Henning Holk Larsen with Mr. Soren Kristian Toubro. L & T turned on to a public limited company in the year of 1950. Company focused in the areas of Engineering & Construction, Electrical & Electronics, Machinery & Industrial Products and in IT & Technological Services.

L & T came across in Shipping and Cement industry also. During the year 1981-82 company acquired 2 bulk shipping carriers from Japan and in the year 1983-84 started one cement plant with capacity of 1 MTPA at Maharashtra. In the year 1997 a joint venture company was formed with Deere Pvt Ltd to manufacture agricultural tractors namely L&T-John Deere Pvt Ltd. In April 1st 2003 company transferred its Cement business to Ultra Tech Cement company. L & T received a host of awards, medals and trophies for its continuous efforts. Environmental Excellence Gold award from Greentech Foundation in 2003-04 and 2004-05. Engineering Export Promotion Council (EEPC) offered a trophy for high exports. During the financial year of 2004-05 Business world's survey on India's Most Respected Companies, ranked L & T the First in Infrastructure Sector. The Ministry of Power conferred the first prize in National Energy Conservation for the year 2005.

In July 2005 the company approved the divestment of its stake in L&T-John Deere Pvt Ltd. In August 2005 the company has entered into a Memorandum of Understanding with DatarSwitchgear Ltd (DSL) to merger the company with L&T. As on October 2005 company has totally exited from the packaging business by sale of its Glass Containers Business to ACE Glass. In the year 2006 company amalgamated two of its own folds, the L&T Power Investments Pvt Ltd (LTPL) amalgamated with India Infrastructure Developers Ltd (IIDL).

A Wall Street Journal survey featured L & T among Asia's "Most Admired Companies" and ranked the company No.1 for quality of products and for overall reputation during the year 2006-07. In April 2007 L&T and its associate Audco India Ltd (AIL) invested Rs 35 crore in the Coimbatore (TN) switchboard and valve unit and plans to investment Rs 60 crore over the coming few years. Larsen & Toubro joining hands with Japan's Toshiba Corporation and Mitsubishi Heavy Industries for setting up manufacturing facilities for super-critical turbines and boilers used in coal-fired power generation plants. The two joint ventures will have an aggregate capital outlay of about Rs 600 crore.

The company is well positioned to exploit the opportunities that will come from hydrocarbon, infrastructure, power, minerals & metals and other industrial sectors. The Public Private Partnership model is going to be the way forwarded for infrastructure projects in the country, L & T has already committed as like that and looking ahead. L & T has commenced shipbuilding at its Hazira Works and also scouting for a suitable site in India to set up a world-class facility for shipbuilding and repair the same. Company also concentrate on the Defence, Nuclear Power and Aerospace sectors which show the potential and promises and L & T plans to expand its presence in the sector of construction and electrification for the railways and L&T investing Rs 2,500 cr for expansion in Shipbuilding, Manpower constraints and others. L&T have super-critical power plants, ranging between 500 MW-1000 MW, the foundation made on March 2008 to add 4000 MW per annum capacity for super-critical boilers and steam turbine generators.