Lord Swraj Paul Second Richest Person In British Midlands

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LONDON – Soaring worldwidegrowth of Lord Swraj Paul’ssteel and engineering empire,the Caparo Group, has elevatedthe family’s worth to the two billionpound mark to make himthe second richest person inBritish Midlands and one of thewealthiest in the country.The family-owned companyposted profits “in excess” of 50million pounds on sales of 921million pounds, according to theBirmingham Post which hasplaced him at the second positionin its annual list of the 50richest people in the Midlandsregion.Operating from more than 80locations across the world,Caparo’s growing Indian businessesalone are now worth wellover 1.5 million pounds, thenewspaper said.In 2012, the group played a partin the hunt for the “god particle”.It supplied componentsand engineering expertise toCERN for the Large HadronCollider which finally identifiedthe Higgs boson particle.The Caparo Group is reapingthe benefits of trading with theworld’s fastest growingeconomies. A return to growthin some of its major markets -particularly India – have repairedthe group’s post-recession fortunes,the newspaper said.The company saw spectaculargrowth until 2007 as a result ofits strategy of building up amajor presence on the sub- continent.The company’s statedaim was to be the biggest automotivecompany in India.But Caparo was hit hard by therecession and had a poor 2008and 2009, reporting losses, rackingup debt and causing itslenders some concerns. Now ithas been restructured, with itsUS and Indian businesses operatingon a stand-alone basis.Revenues from all of the companieshave seen impressivegrowth, according to the Post.The group remains ambitiousand as economies across theworld – particularly India -demonstrate enviable growthCaparo is taking advantage.The company has three entitiesin India — Caparo Maruti,Caparo Engineering India andCaparo India Private. Caparo’sfirst venture in India was back in1994 when the company set up ajoint venture with Maruti, thenIndia’s largest car company.