Alfa Laval India Ltd. effected major changes in its board, paving the way for the planned global divestment of Alfa Laval by the Tetra Laval group, in keeping with the global restructuring of the group, which began in 1993.
The restructuring process envisaged the vertical separation of businesses across the group companies globally. Under this, businesses that had synergy with that of Tetra Pak (example: food processing, fruit juice, liquid food packing) went with Tetra Laval, and those which did not, stayed with Alfa Laval.
In India, this has meant that companies including Alfa Laval Financial Services Ltd, Alfa Laval Saunders Valves (I) Ltd, Lavrids Knudsen Maskinfabrik (I) Ltd and Skansen Engineering & Consultancy Co. Ltd, besides Alfa Laval India Ltd go with Alfa Laval, while Tetra Pak India Ltd and De Laval (formerly Alfa Laval Agri Ltd) stay with the Tetra Laval group.
Within Alfa Laval, one of its divisions, Tetra Pak Processing Systems, has been hived off and sold to Tetra Pak India as part of the restructuring.
At its 62nd AGM in Pune on May 29, the company announced the stepping down of three of its directors, including chairperson and former managing director Mrs. Lila Poonawalla, in order to pave way for increased representation by the Alfa Laval group. Mr. Jos Bellinkx, a director at Alfa Laval since 1996, has taken charge as chairman of Alfa Laval India.
The other two directors who have stepped down include Prof. Goran Grosskopf, chairman of the Tetra Laval Group Board and Mr. Bo Wirsen, president and chief executive officer of Tetra Pak Region Asia.
As a result of this change, Mr. Yannick Richomme, executive vice president, Alfa Laval group and president for Business Area Separation, and Mr. Peter Liefland, executive vice president, Alfa Laval group, were appointed as directors on the Alfa Laval India board.
According to the new chairman of Alfa Laval India, Mr. Bellinkx, the stepping down of the Tetra Laval representatives from the board was in keeping with the global changes and these changes would give the new owners the freedom to structure the business as they see fit.