Nicco Group plans restructuring

CALCUTTA May 26: Nicco, the Rs 525-crore group, has decided to go in for a long-term restructuring exercise with the help of Industrial Cre...

CALCUTTA May 26: Nicco, the Rs 525-crore group, has decided to go in for a long-term restructuring exercise with the help of Industrial Credit and Investment Corporation of India Consulting. Flagship company, Nicco Corp managing director Rajive Kaul said on Monday the recast would entail `re-architecturing’ of strategy, operations and structure of the entire value chain to realise long-term objectives.

"The idea is to re-architect through small, simple and minimum changes in structures and systems, which will lead to quantum improvements as opposed to incremental improvements. The changes will then be structured to ensure sustainability," Kaul said.

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He added that the consultancy division of ICICI will get a share of incremental profits, apart from the usual fees. "ICICI will also be working out an overall strategy after analysing the internal and external environments, including the liberalisation process and its future. It will even help in implementation, which will cover consultation for our marketing network and our HRD activities," Kaul said.

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He, however, refused to spell out the actual strategy for Nicco, which manufactures cables, engineering services, turnkey projects, software, batteries, financial services and park and resorts’ operations.

"ICICI will also be helping us identify our partners in these areas of business. It may be either technical or financial. We may have to de-merge the organisation," he said.

ICICI has already begun working at Nicco’s Shyamnagar cables factory, in North 24 Parganas district, bordering Calcutta, Kaul said.