M&M to launch three more versions of Bolero
Mumbai: Mahindra & Mahindra (M&M) is set to launch three new variants of its utility vehicle Bolero to boost its market in the urban segment. The company has also launched a new vehicle - Mahindra Maxx – in the same range as Telco’s Spacio, which has recently made inroads into the rural markets. The Maxx would be replacing the 10-seater Marshal.

To broadbase the demand for Bolero GLX, the company is launching a cheaper version - Bolero LX - which will be available without power windows, central locking system and music system. The company is also introducing the Bolero LX RC without the power steering, for the government market. After the launch the Scorpio in the top end later this year, M&M has decided to come out with a high-end Bolero, a seven-seater, which will also be on the roads soon.

The new models are expected to boost M&M’s volumes, which are otherwise shrinking due to the general slowdown. Although M&M’s February sales at 5,940 units were higher than the previous month, the volumes have declined during this fiscal. During April-January, the company sold 46,037 vehicles against 57,014 units in the year-ago period.
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MUL to diversify into services sector
New Delhi: Maruti Udyog Ltd. (MUL) will soon diversify into the booming services sector, including auto insurance and used car business and has earmarked Rs 16 crore for launching the project. The new diversification project will be rolled out within the next six months. The diversification into services will cover four sectors - automobile insurance, used-car business, corporate lease and fleet management and auto finance, as per the recommendations made by consultant A T Kearney.

Maruti already has in operation a call-centre programme, in alliance with G E Capital to provide information on its vehicles, sales outlets, workshops as well as various finance schemes to people. The call centre business is believed to part of the company's plan to move into newer areas to serve its customers better and boost sales. MUL also has separate auto finance joint ventures- Maruti Countrywide Finance and Citicorp Maruti Finance.
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Kanoria Chem to foray into power generation
New Delhi: Kanoria Chemicals, a S S Kanoria group company, has said that it will adopt strategic focus on expanding its interests in the power sector and invest Rs 250 crore over the next three years in power generation projects. The company proposes to set up independent power projects in the country and is reportedly soon signing a memorandum of understanding (MoU) with a state government to set up a coal-based mini power plant. The company plans to set up mini power projects of 25-100 mw capacity. The company already has two captive plants generating total capacity of 27 mw.
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Le Meridien opens its sixth hotel at Kochi
Kolkata: Le Meridien has opened its sixth hotel in the country at Kochi. The hotel, which has 150-rooms and a convention centre is part of group’s expansion plan of owning 20 property in the country by 2004. The premier hotel group has also introduced a toll-free domestic booking number, 1600 11 6006 and an international booking number of 1600 111 290 to enable its potential customers to make bookings at any of the group's hotels in India and abroad over telephone, the release said. Le Meridien has a global portfolio of about 150 hotels in 55 countries worldwide and an annual turnover of over $2 billion.
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MMT to set up a global facility in Bangalore
Bangalore: MMT, the US-based diversified imaging giant is planning to invest $7 million in its seventh global production facility in Bangalore. The company has already invested $5 million in the 48,000 sq. ft Bangalore facility this January and plans to further invest another $2 million in 2002. MMT plans to use the India centre for the domestic market as well as source development work for Saarc, parts of Middle East, Africa and East European customers.

MMT, which has patented digital imaging technology for automotive grade acrylic paint to create 'true-to-life' durable outdoor images, entered the India by acquiring 65 per cent stake in a Selvel's inkjet subsidiary Megacell Digital in October '99 for $1.3 million. MMT offers a twin range of products - the conventional inkjet digital images and its own new version. The opening of the Bangalore centre will enable the company to slash its prices from Rs 140-160 per sq. ft of the billboard area to Rs 100-120.
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Rallis readies for restructuring exercise
Mumbai: Rallis India, a Tata group company has got into the revamp mode. The company has engaged Tata Strategic Management Group and Eicher Consultancy Services to give to put together a restructuring plan. Under the plan yet to be finalised, the Rallis is likely to consider exiting from some of the existing businesses besides foraying into new related areas. The restructuring exercise would also include reorganising manufacturing operations and finances, and selling idle assets.

The company, India's largest player in seeds has reportedly formed a total of eight task forces across levels and functions, working on different aspects of strategy. The strategic blueprint is to be finalised by the end of this financial year.
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Sify bags best ISP award
Chennai: Satyam Infoway Ltd. has bagged the `ISP of the Year' award at the second annual Internet World Asia Industry Awards, 2001. The award has been conferred for excellence based on strategic vision, innovation, customer service, bandwidth performance and connectivity. Mr. Michael Westcott, managing director, Penton Media Asia, presented the award to Mr. R. Ramaraj, CEO and managing director, Satyam Infoway, at a function held in Singapore recently.
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Syngenta to merge Zeneca subsidiaries
Pune: Syngenta India, a 51 per cent equity subsidiary of $7.3 billion Syngenta AG, Switzerland, has formed an internal management team to evaluate the possibility of merger of its two fully owned subsidiaries, Zeneca Agrochemical and Zeneca Biosciences, with itself. The merger move, which will bring together portfolios of the three companies is expected to be taken sometime this year.

Syngenta India was formed at the same time when its parent was floated in November 2000 with the merger of the agri-businesses of Novartis AG and AstraZeneca Plc. Syngenta India's likely merger with the two group companies will be in line with the global mergers. As a prelude to the merger, Zeneca Agrochemical is being renamed as Syngenta Crop Protection, while Zeneca Biosciences will be called Syngenta Biosciences.
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