Larsen & Turbo

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LARSEN & TOUBRO
History of development
Larsen & Toubro is a multinational conglomerate with headquarter in Mumbai, India. The legacy started in 1938, a year before the start of World War II, two Danish engineers Søren Kristian Toubro and Henning Holck-Larsen arrived in India to set up a small office to represent a dairy equipment manufacturer from their home country. In 1939 due to start of the World War II, imports were restricted, which forced to engineers to shut their business, by that time the war-time need was to repair and refit ships, this opportunity offered to L&T a chance and led to the set up two repairing and fabrication shops .
In 1940 L&T got an task to build a soda ash plant for the Tatas German group. L&T proved their capability at execution and the reputation is still with the company since. By 1945, Larsen and Toubro partnered with a British machines manufacturers equipment used to make hydrogenated oils, biscuits, soaps and glass . This assignment helped them to build a brand-new portfolio of foreign collaborations, L&T also collaborated with an US partner, Caterpillar Tractor company and with it, it ended into the earth moving equipment business.
In 1948 a year after the Indian Independence, L&T bought 55 acres of undeveloped mash in Powai, Mumbai¹. In the next years this lands became the company’s manufacturing landmark. In 1950 L&T went public with a paid-up capital of 2 million rupees and the sales turnover in the same year was 11 million rupees. By 1956, L&T got a new place in Bellard Estate, Mumbai, the move a part of their main office to this location, in the later years this will be knowing as the L&T House.
In the year of 1962 Toubro decided to retire from active management, later Holck-Larsen who was the chairman at that moment, also retired from his possession in 1978. When both of the founders left the company, it was in a…...

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