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Welspun Group
Welspun World (formally known as Welspun Group) is an Indian multinational Conglomerate (company), conglomerate with business interests in line pipes, textile, infrastructure, and steel. It is headquartered in Mumbai. History In 1985, Balkrishan Goenka, along with his cousin Rajesh R Mandawewala, founded Welspun with an initial investment of $100,000 borrowed from his father. The company began its operations as a small texturizing unit under the name Welspun Winilon Silk Mills in the Palghar district. It was promoted by the G.R.G. group, headed by Gopi Ram Goenka, who is the father of Balkrishan. Between 1986 and 1989, the company established two yarn texturizing factories. One, situated in Palghar, produced 797.5 MT of yarn annually. The second factory, with a similar capacity, was set up in Silvassa. In 1990, the company expanded its operations by establishing a polyester filament flat yarn manufacturing unit in Thane, with a capacity of 605 MT per annum. The company's nam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Group
A corporate group, company group or business group, also formally known as a group of companies, is a collection of parent and subsidiary corporations that function as a single economic entity through a common source of control. These types of groups are often managed by an account manager. The concept of a group is frequently used in tax law and accounting and (less frequently) company law to attribute the rights and duties of one member of the group to another or the whole. If the corporations are engaged in entirely different businesses, the group is called a conglomerate. The forming of corporate groups usually involves consolidation via mergers and acquisitions, although the group concept focuses on the instances in which the merged and acquired corporate entities remain in existence rather than the instances in which they are dissolved by the parent. The group may be owned by a holding company which may have no actual operations. Black Bear Development, conceptualized ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |