Oriental Trimex's Strategic Divestment for Streamlined Operations

Oriental Trimex, a major player in the marble processing and importing sector, has announced plans to divest some of its land assets and a granite unit in Odisha in an effort to streamline its operations and reduce expenses. The company aims to sell seven acres in the Somnathpur Industrial Estate and a granite unit in the Rairangpur Industrial Area, according to recent business updates shared on stock exchanges.

The approved divestment strategy is expected to enhance liquidity, allowing for more focused investments. Meanwhile, the company is preparing to commence quarry operations at their Black Granite mine this quarter, after receiving the necessary mining lease from Odisha's government earlier this year. The lease covers nearly five hectares in Malkangiri District, and preparations for commercial production are underway.

Oriental Trimex also revealed the deployment of a 'smart cut' machine utilizing ultra-thin wire technology, expected to reduce waste by 20%, optimize yield, and improve profit margins. Market demand is strong, with luxury apartment developments in the National Capital Region creating a robust market for Oriental Trimex's high-quality marble and granite products.

(With inputs from agencies.)