HLL Completes Disposal Of Mushrooms Business

KICM, a subsidiary of HLL had acquired the mushroom factory near Ooty which employs about 300 people from HLL effective July 1, 2002 and had then assured the employees continuity in employment and protection to existing terms and conditions of service. The present transaction only involves changes in shareholding of KICM and has no direct impact on the employees. The turnover of mushroom business was approximately Rs 20 crores per annum.