Glaxo brings Zyban to smoke out addiction
Mumbai: Glaxo India is set to launch Zyban, a pill to help quit smoking in May. The company is gearing up for a high-profile launch of the drug to be backed by a social campaign against smoking. Zyban, which is in the top 10 list of new products of its parent firm, GlaxoSmithKline in 2000 and is believed to have immense market potential in India, which has about 37 million smokers.

The nicotine-free drug, Zyban works by preventing a fall in the levels of neurotransmitter dopamine and noradrenaline in the body. It is the fall in these levels which result in withdrawal symptoms when a smoker stops smoking. Clinical trials and case studies have shown that quitters do not experience these symptoms if they stop smoking, while on Zyban, which improves the success rate.
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Alfred Dunhill to foray into Indian fashion markets
Mumbai: Alfred Dunhill, British luxury goods company is foraying into Indian market with a collection of clothing and accessories for men. The company has tied up with Ravissant, a haute couture house that sells jewellery, bed linen and furnishings to open a stand alone retail outlet in Mumbai.

Alfred Dunhill is to open exclusive outlets through Ravissant and develop wholesale distribution of watches, pens, lighters and leather accessories through jewellery and watch retailers such as Palazzio in Crossroads, Time Avenue in Bandra and Regent in the Taj. The products that will be available in the Indian market include menwear, leathergoods, timepieces, writing instruments, lighters, men's fashion accessories, fragrances and eyewear.

Alfred Dunhill is one of the subsidiary companies of the Richemont Group, which owns brands like Cartier, MontBlanc, Piaget and Baume & Mercier.
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Telco February sales goes up by 11 percent
Mumbai: Tata Engineering has said on Tuesday that it has sold 15,597 vehicles in February, an increase of 11 per cent over its volumes in the previous month. The company recorded a total sale of 14,062 units in January. Sales of medium and heavy commercial vehicles stood at 5,291 units during the month marginally up from 5,159 units in January. Sales of light commercial vehicles increased to 3,109 units in February from 2,701 units in the previous month.

Sales volumes of passenger car and utility vehicles witnessed a modest recovery as the company sold 6,364 units in February, higher by 22.6 per cent than the previous month. Cumulative sales of passenger cars and utility vehicles during April-February 2001 stood at 63,052 units. Sales of the Indica rose by 23.4 per cent over the previous month to 3,651 units, taking the cumulative sales during April-February '01 to 38,573 units. The company had sold 5,190 Indicas in February 2000. Utility vehicle sales have also risen by 22.2 per cent over the previous month to 2,693 units.
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RPG Cables plans acquisition of 4 Gujarat cable firms
Mumbai: RPG Cables, the second largest domestic player in the sector, is working on a detailed investment plan for acquisition of up to four small and medium sized cable companies. Under the plan, RPG Cables is believed to have zeroed in on a leading group in Gujarat for a possible takeover, with annual capacity of 200 LCKMS (lakh cable kilometers).

At present, RPG Cables has two cable manufacturing plants in the country with a total capacity of about 70 LCKMS. Though telecom cable firms are likely to be hit hard by the recent Budget recommendations, the RPG Cables plans to go ahead with its investment plans and has reportedly initiated an expansion plan to strengthen its optic fibre cable business. The plan also includes the expansion of its Mysore plant, upgradation of the Silvassa unit and commissioning of a balancing facility.
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Cipla dismisses 'piracy' charges
Mumbai: Cipla has strongly dismissed allegations by GlaxoSmithKline CEO Mr. J P Garnier that it was a 'pirate' and said it was prepared for any litigation. GlaxoSmithKline holds a patent on lamivudine, one of the drugs in the triple drug cocktail Cipla is offering. The drug costs between $10,000 and $12,000 per year per patient in developed countries.

However, Cipla sent shock waves across the global pharmaceutical community last month, when it offered to supply drugs to AIDS sufferers in poor countries for less than $1 a day, sharply undercutting the multinational pharmaceutical firms.
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Tatas firm up partners for Gopalpur SEZ
Mumbai: The Tatas, the Adani Group and the Orissa Industrial Development Corporation (OIDC) have come together as equity partners to develop a special economic zone at Gopalpur. The Adani Group, which set up a port at Mundra in Gujarat, has recently signed a memorandum of understanding (MoU) with the Orissa government for developing a port at Gopalpur, under the build-own-operate-transfer (BOOT) scheme for a concession period of 30 years.

The Adani Group is expected to take up the development of the SEZ around the port. TISCO, which had initially acquired the land at Gopalpur for setting up an integrated steel complex, has now decided to develop it as an SEZ, with the help of Adani Group and the state government.

Adani Group, which developed the Mundra Port in Gujarat, has taken-up another venture of developing Gopalpur port into a world-class all-weather port in Orissa.

The Tatas have already spent more than Rs 150 crore to acquire land and rehabilitate the displaced land owners.
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L&T in the fray for GVK's EPC contract
Mumbai: Larsen & Toubro along with Alstom, BSES and Lurgi, a German company are in the race for the $115-120 million engineering, procurement and construction (EPC) contract for the 220 mw power plant to be set up by the Hyderabad-based GVK Industries. The contract is for the Rs 667.5 crore second phase of the GVK Industries-promoted Jegurupadu power project in Andhra Pradesh.

GVK Industries was one of the first independent power producers to get off the ground by setting up a 216mw power plant at Jegurupadu in 1996. It is planning to add 440mw in phases of 220mw each, taking the combined the capacity of the project to 656mw.

The expansion is being implemented in two phases as it has signed a gas-supply agreement with Gas Authority of India (GAIL) for 1.1 million cubic metre per day. This will enable it to operate only a 220mw power plant. GVK Industries is also planning to appoint the present operations and maintenance contractors - Jegurupadu Operations and Maintenance Company (JOMCL) - as the O&M contractor for the second phase. JOMCL is a joint venture between the GVK group and US -based CMS Generation Company.
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Allied Domecq seeks nod to make rum from molasses
New Delhi: Allied Domecq has sought government's permission to manufacture rum using molasses as a base product. The company currently manufactures rum using grain as the raw material as per international standards.

In India, only domestic companies are allowed to manufacture hard liquor using molasses as a base. As per the government stipulation, foreign companies have to follow international standards and manufacture spirits using grains as a base.

The company has applied to the food processing ministry, the Foreign Investment Promotion Board (FIPB) and the government of Rajastan, where the distillery is located to grant clearance for making rum out of molasses.
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Cathay Pacific to start Delhi-Hong Kong services
Hong Kong: Cathay Pacific Airways plans to launch a new non-stop passenger service between Hong Kong and New Delhi. The airline has said that new service to be launched from March 26, operate four times a week using Airbus A330-300 aircraft. The decision follows the negotiation of a new bilateral pact in January.

India and Hong Kong in January concluded a revised air services agreement, allowing flagship airlines of the two countries to add 1,250 seats per week. Cathay Pacific currently flies four times a week on the Bombay-Hong Kong route, while Air India flies five weekly services on the Bombay-Delhi-Hong Kong route. Two of the airline's flights further connect to Osaka.
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Flint Ink acquires 51 per cent stake in Incowax
Mumbai: Flint Ink, the world’s second largest manufacturer of printing inks, has entered India by taking a 51 per cent equity stake in Bangalore-based Incowax, which is India’s third largest printing ink company. Flint Ink has the option to further raise its stake to 76 per cent over a period of time. Flint Ink operates 100 facilities across the world and had sales in excess of $1.5 billion in 2000.

This is Flint Ink’s first investment where it has settled for a 51 per cent majority control. All its other investments in foreign markets over the last three years have been through outright acquisitions. The company has made acquisitions in Venezuela, Argentina, Brazil, Australia and the US in recent years.

Incowax, a 28-year old company with annual revenues of Rs 35 crore, is the third largest player in the printing inks business in India, after Hindustan Inks and Coates. The size of the Indian printing ink industry is estimated at about Rs 600 crore.
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