Wagon R launched
New Delhi: Wagon R from the Maruti stable is out. The second offering of the company in the Zen segment, the car was formally launched by partner Suzuki Motor Corporation’s president and chief executive O. Suzuki. Wagon R is Japan’s best selling car.

Maruti Udyog’s managing director Jagdish Khattar said Maruti will position Wagon R in the premium-end of the small car segment. The car is powered with a four-cylinder, 16-valve 1.061-cc multi-point fuel injection engine capable of generating 62 bhp. It will have three variants, LX, VX and AX. The company is expected to announce the price of the car during the Auto Expo in Delhi in January 2000.
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Reliance Petro advances debt redemption
Mumbai: Reliance Petroleum is advancing the scheduled date of redemption of the non-convertible portion of its outstanding triple option convertible debentures amounting to Rs 960 crore. The company will now make redemption payments on 3 February 2000 to over 90,000 holders of the debentures. The payment is being made towards the second instalment of Rs 30 per debenture (comprising principal of Rs 15 and interest of Rs 15), payable on 22 November 2000 and the third instalment of Rs 30 per debenture (comprising principal of Rs 15 and interest of Rs 15) payable on 22 November 2001.

The debenture holders will thus receive the redemption proceedings almost two years in advance. The company had redeemed the first instalment worth Rs 320 crore on 22 November 1999.
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Kanan Devan Tea in new pack
Kochi: Kanan Devan, which is Tata Tea's leading tea brand in south India, will now be available in a new package. The company plans to market the brand as a garden fresh tea. Malayalam film star Mohan Lal will be the brand ambassador for the tea for the next three years. Kanan Devan tea accounts for 20 per cent of Tata Tea’s sales volume. Its consumer base is largely in Kerala, Karnataka, Tamil Nadu and Goa.
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Voltas launches forklift trucks
Mumbai: Voltas has launched a new series of forklift trucks, the DVX series. The trucks have been designed and developed indigenously by the material handling division of the company. They will have capacities ranging from 1.5 tonne to 3 tonne.
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Siemens plans takeover of Bosch phone unit
Munich: Siemens is about to conclude a deal with Robert Bosch to take over the latter’s mobile phone production division. A Siemens’ spokesman said a formal agreement could be reached in a few weeks. He, however, said the decision could also be to cooperate in the production of mobile phones.
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