India's Tata mulls sale of Voltas home appliances business- Bloomberg News
November 07, 2023 at 01:29 pm IST
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BENGALURU (Reuters) - India's Tata Group is considering to sell the home appliances business in Voltas, as the salt-to-software conglomerate foresees difficulties in scaling it up in a competitive market, Bloomberg News reported on Tuesday citing people familiar with the matter.
(Reporting by Manvi Pant in Bengaluru; Editing by Nivedita Bhattacharjee)
Voltas Limited is an India-based air conditioning and engineering solutions provider and a projects specialist. The Company's segments include Unitary Cooling Products, Electro - Mechanical Projects and Services, and Engineering Products and Services. Unitary Cooling Products segment includes manufacturing, selling and after sales services of cooling appliances and cold storage products, and facilities maintenance and hard services, such as operations and maintenance contracts in various sectors, retrofits and energy management, among others. Electro - Mechanical Projects and Services segment includes electro-mechanical projects, such as electricals, heating, ventilation and air conditioning, plumbing, extra low voltage and specialized services, and water solutions, such as comprises water treatment solutions for industrial, oil and gas and domestic sewage segments, among others. Engineering Products and Services segment includes textile machinery and mining and construction equipment.