Henning Holck-Larsen

Henning Holck-Larsen

Henning Holck-Larsen (July 4, 1907 Frederiksberg, Denmark — July 27, 2003 Mumbai) was a Dane who co-founded the Indian engineering firm Larsen & Toubro (L&T).

Biography

Henning Holck-Larsen was educated at the University of Copenhagen (and what is now the Technical University of Denmark). He came to India in 1937 as a chemical engineer working for F. L. Smidth & Co. of Copenhagen. Partnering with his former schoolmate and fellow employee Søren Kristian Toubro, he set up Larsen & Toubro in 1938. The idea of L&T was conceived during a holiday in Matheran, a hill station near Bombay (now Mumbai).^[1] Holck-Larsen was a risk-taker while Toubro was more conservative.^[2] Larsen and Toubro saw opportunities in India at time, when few Europeans had realized the country's potential for industrial growth.

The first office of L&T, located in Bombay, was so small that only one of them could use it a time.^[3] Initially, L&T represented Danish dairy equipment manufacturers. However, the Danish imports were restricted during the World War II, forcing L&T to start a small workshop that provided servicing and undertook small jobs. The imports stopped after the German invasion of Denmark, forcing L&T to start manufacturing dairy equipment indigenously, a move that was successful.^[3]

Seeing opportunity in ship repair during wartime, Larsen and Toubro formed a new company called Hilda Ltd. Around this time, L&T also started two repair and fabrication shops. The internment of German engineers who were supposed to build a soda ash plant for the Tatas provided L&T another new opportunity.^[3]

In 1944, Larsen and Toubro established Engineering Construction & Contracts (ECC). L&T started collaborating with international companies around this time. In 1945, it signed an agreement with the Caterpillar Tractor Company of USA for marketing earthmoving equipment. L&T also started representing British manufacturers of equipment used to manufacture a variety of products including biscuits, glass, hydrogenated oils and soaps.^[3] At the end of the World War II, the war-surplus Caterpillar equipment were available in bulk at low prices. However, L&T lacked the money to purchase them. Therefore, Larsen and Toubro decided to raise additional equity capital, and as a result, Larsen & Toubro Private Limited was established on 7 February 1946.^[3] After India gained independence in 1947, L&T set up offices in Calcutta, Madras and New Delhi.

Larsen and Toubro gradually transformed L&T into a large business house with diverse interests, and went on to become one of the most successful Indian companies.

After retirement, Holck-Larsen served as the chairman emeritus of the company. He used to call India his "adopted homeland" and divided his time between Denmark and India.^[4]

He died in 2003 at the Breach Candy hospital, Mumbai after a prolonged illness, having spent time in intensive care. He is survived by a daughter, Jeannette Arnold, who in turn has two children, his only grandchildren Lucy and Toby Findlay.

Awards and recognitions

• Ramon Magsaysay Award for International Understanding (1976)
• Knighthood from Queen Margrethe II of Denmark (1977)
• Sir Jehangir Ghandy Medal for Industrial Peace (1980)
• Chemtech Foundation's Chemical Industry Stalwart Award (2000)
• Bombay Management Association's Lifetime Achievement Award (2001)
• Citation from the Indo-European Union Business Summit for promoting business beyond boundaries (2002)
• Padma Bhushan (2002) for contribution to Indian industry.

Quotations

• "It is our ability to anticipate the future and react accordingly that will determine our success".
• "India, my adopted homeland, has a special place in my heart. With the Padma Bhushan, I am happy to realise that I have a place in her heart too".
• "Machinery must be there, buildings must be there but without the people it’s all nothing.People are our only real asset".
• "‘The customer is the one who will decide whether we should live or die".
• "‘People will not be content in the long run to look up to those who themselves are not looking up to something higher than their ordinary, everyday lives".

References