Tata Chemicals on Tuesday said major restructuring activities undertaken at its United Kingdom (UK) and Kenya operations have resulted in ‘positive operating and financial results in recent times’, allaying concerns raised by ousted Tata Sons Chairman Cyrus Mistry.
Mistry, who was replaced by the Board of Tata Sons on October 24, had written to the directors a day later that Tata Chemicals “still needs tough decisions about its UK and Kenya Operations”.
Tata Chemicals said despite not being mandatory, its board had voluntarily formed a risk management committee in February 2015 and “risk associated with all the businesses, including the UK and Kenya operations were reviewed, evaluated and discussed…
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