spun out

[unpakwon]

Could anyone explain what "spun out" means in the following?

We set out to create the most effective outplacement plan ever seen in Russia. We spun out parts of the plant production we weren't interested in (for example, aerosols and linoleum flooring) as small, stand-alone enterprises.

Thank you in advance.

 

[vil]

Hi unpakwon,

spin out = prolong or extend

spin out refers to a type of spin off where a company "splits off" sections of itself as a separate business.

The common definition of spin out is when a division of a company or organization becomes an independent business. The "spin out" company takes assets, intellectual property, technology, and /or existing products from the parents organization.

outplacement = the process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer.

flooring = material, such as lumber or tile, used in making floors

enterprise = a business organization

Regards.

V.

 

[unpakwon]

You are a very kind teacher.

It's been very helpful. Thank you. :-D

 

[vil]

Dear unpakwon,

I accept with thanks your benevolent words.

Sorry, I do not have the honor of being a teacher. I'm an ordinary student like you.;-)

Regards.

V.