Engineering major Larsen and Toubro Ltd (L&T) has announced the sale of unlisted subsidiary EWAC Alloys Ltd as part of its strategy to exit non-core businesses. EWAC makes welding products and provides related services. The company, which began as a joint venture of Larsen & Toubro and Germany-based Messer Eutectic Castolin Group, became a wholly owned subsidiary of L&T in 2011.