Larsen & Toubro (L&T) said that it has sold its foundry unit at Coimbatore to Bradken Ltd for Rs 163 crore as part of its strategic plan to exit non-core business.

L&T has said in a regulatory filing that “The company today has completed sale of its casting manufacturing unit (foundry unit) located at Coimbatore to Bradken Ltd.”

A consideration of Rs 163 crore has been received by the company from the sale of the foundry unit that had a revenue of Rs 122 crore in the 2014-15 fiscal.

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