Financial Daily from THE HINDU group of publications
Saturday, Jul 20, 2002
Financial Daily from THE HINDU group of publications Saturday, Jul 20, 2002 |
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Info-Tech
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Restructuring SSI to restructure operations Our Bureau
CHENNAI, July 19 THE city-based SSI Ltd is to restructure its operations to run the software services and training businesses separately. Increasingly, the management and investment needs of the two divisions had become distinctly different, and the restructuring clears the way for additional investments into both businesses, the company said in a release. At present, training and software services are run as separate divisions within SSI Ltd. Each division is headed by a chief executive officer and has a distinct personnel policy and work culture. The company's board, approving the move on Friday, has formed a sub-committee comprising Mr T.K. Bhaskar and Mr K.Vaitheeswaran, both non-executive directors, to advise the board on the options available to complete this process. ``The restructuring will enable management decisions and investments to develop the full potential of each business without impacting the other,'' Mr Kalpathi Suresh, Chairman and CEO, SSI Ltd, said in a release. The restructuring will facilitate new initiatives to enhance SSI Educations' current relationships with its students, customers, and business partners, the release added. SSI Education, in addition to developing products and services for IT training, plans to broaden its scope to include K-12 training, vocational training in IT and non-IT areas, and new markets. This week for instance, SSI Education launched `SSI Shakthi, a basic computer literacy course in Tamil. SSI Education, the education and training division, began operations in 1991 with one centre in Chennai to over 700 education centres across India and neighbouring countries. SSI Education contributed Rs 230 crore or 56 per cent of fiscal year 200102 operating revenue of Rs 410 crore. SSI Technologies, the consulting and software services division, was started in 1999 and grew mostly through acquisitions and partnerships. The division today has over 80 global clients, says the release.
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