Hind Motors considers sale of Chennai plant.

Hindustan Motors Ltd (HML), maker of the iconic Ambassador car, is considering selling its Chennai plant, instead of an earlier proposal to hive it off and merge with a company subsidiary.

In a note, the CK Birla group company said recently: 'In view of the delay in the de-merger scheme awaiting the (Calcutta) High Court's sanction, the company is initiating divestment of the Chennai plant. In the interim period, the company plans to have a working arrangement for the Chennai plant.'


HBL