Summary
The Calcutta-based Macneill & Magor was renamed Williamson Magor & Company in 1992. The change of name is in line with the companys reorganisation programme. Over the last few years, it has been hiving off its engineering divisions, spinning them off into separate companies. In fact, both the Khaitans and the Magors who are the co-promoters, were of the view that for the different product groups to thrive, it is necessary to convert them into separate companies.In 1989, the industrial machinery product group was transferred to Kilburn Engineering. 1990 saw the transfer of the materials handling and electrical products groups to Macneill Engineering; and in 1992, the last two engineering groups (mining and trading) were transferred to Macneill International. The company transferred 2 tea gardens to its group outfit, Mcleod Russel (I) and 7 tea estates to The Bishnauth Tea Company. After transferring nine of its tea estates to the group companies, it virtually became a holding company of the subsidiary tea firms. Divested of its tea interests, the companys present activities include trading and investments, and are property owners and tea warehousemen. It also diversified into new areas. As a part of diversification into the power sector, it floated Assam Valley Power Corporation to set up a 90-MW combined-cycle gas-based power plant at Namrup, Assam. Eventually, the project was shelved due to non-allocation of natural gas by the Government of Assam. It also plans to set up an... Read More
Reports by Williamson Magor & Company Ltd
Reports by Williamson Magor & Company Ltd
+91-9892691696
