Toyota to enter small and mid-size car segments
New Delhi: Toyota Motor is planning to enter the domestic small and mid-size car market in India. Mr. Sachio Yamazaki, managing director of Toyota Kirloskar Motor Ltd.(TKML)has stated that Toyota was studying the market and a concrete decision would be taken after the announcement of the new auto policy. Toyota is also closely examining cost viability of locally manufacturing small car, which would conform to Indian roads safety and environmental conditions.

The company on Saturday also unveiled a limited edition first anniversary variant of its multi-purpose-vehicle Qualis. It is also shortly planning to introduce a top-end passenger car in the Indian market, priced at about Rs 20 lakh. TKML would achieve net profits by the end of 2002, when it is expected to cross sales of 40,000 units of the Qualis. TKML, an 88.86:11.14 per cent joint venture between Toyota and the Kirloskar Group, has invested about Rs 700 crore in establishing its plant in Bidadi, near Bangalore.
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Godrej group planning to dilute 49% stake in Pillsbury JV
Mumbai: The Godrej group is reportedly negotiating with its joint venture partner Selviac Nederland BV (Pillsbury) to divest its 49 per cent holding in Godrej Pillsbury Ltd. Of the total Godrej group holding, Godrej Soaps holds 20 per cent. The divestment move comes in the wake of Godrej Foods snapping the distribution arrangement with Pillsbury with effect from October 31, 2000.

Pillsbury owns the majority stake of 51 per cent in the joint venture, which essentially manufactures and markets the Pillsbury range of atta and cake mixes in the Indian market.

The distribution agreement was signed along with the joint venture agreement between the Godrej group and Selviac Nederland BV (Pillsbury) in 1995. The joint venture company- Godrej Pillsbury achieved sales of around Rs 30 crore last year and is expected to achieve a break-even point in June this year.
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Unichem launches Erix
Mumbai: Unichem Laboratories has announced launch of Erix, which is used to treat erectile dysfunction. Erix will be available as 25, 50 and 100 mg doses in an oral tablet form. Unichem has been permitted by the Drugs Controller General of India to manufacture and market the drug. Unichem has developed the bulk drug and conducted clinical trials on the finished dosage form.
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Baker Norton to set up 100% R&D arm in India
New Delhi: Baker Norton International of Switzerland, part of the $656-million the US-based generic drug manufacturer IVAX Corporation is setting up a 100 per cent owned subsidiary in India for research and development activities. The group is investing about Rs 4.65 crore in the startup phase and would be making further investments in a phased manner.
The proposed venture would be engaged in organising clinical research of new molecules and manufacture and marketing of bulk drugs as well as formulations for export. It also plans on getting involved in contract research and market support to various IVAX group by selling IVAX range of products, particularly life saving drugs.

The IVAX group is also planning to enter into arrangements with Indian companies for coordinating and contracting R&D activities. IVAX is expected to transfer the activities of an existing wholly owned subsidiary, Norton Healthcare, to the proposed subsidiary in order to consolidate its activities in the country. Norton Healthcare is currently engaged in research and development activities in active drug substances and finished dosage formulations.
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Ashok Leyland signs three-way pact with TVS Coaches, Irizar
Mumbai: Ashok Leyland Ltd. (ALL) has entered into a tripartite arrangement with TVS Coaches and a European company, Irizar, to manufacture bus-bodies for tourist and luxury vehicles. The new production facility will be located at Virali Malai in Madurai, where an existing TVS coach plant will be upgraded.

Irizar is one of the leading manufacturers of bus-bodies in Europe and TVS Coaches is Ashok Leyland's most important supplier. Though the manufacture of bus-bodies is a new business for Ashok Leyland, it has been in the past building tipper bodies, tractor-cabins and frontal structures through its joint sector company- Automotive Coaches and Components Ltd. (ACCL).

Ashok Leyland, is one of the leaders in the middle and heavy commercial vehicle category and has a market share to around 37 per cent in that segment.
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Herdillia to set up Rs 700-cr plant at Dahej
Mumbai: Herdillia Chemicals Ltd (HCL), is setting up a Rs 700-crore phenol and acetone plant at Dahej in Gujarat. The proposed plant will have a production capacity of 1 lakh metric tonnes of phenol and 60,000 metric tonnes of acetone per annum. The investment in the proposed project is about Rs.700 crores.

The present capacity of acetone and phenol in the existing plant is around 34,000 metric tonnes per year and 20,400 metric tonnes per year, respectively. The company now proposes to enhance its capacity of alkyl phenols by an additional 1,000 metric tonnes per year. The increased capacity would enable HCL to improve the market share in this segment.
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Tata Finance to merge group travel companies into new subsidiary
Mumbai: Tata Finance Ltd. (TFL), is set to take over three of group companies- Forvol International Services Ltd, Stallion Travel Services Private Ltd and Taj Services, all involved in travel related services. The move forms part of the restructuring of TFL, which is being repositioned to get sizeable share of the travel-related services market.

TFL is currently in the process of setting up a subsidiary likely to be called - Tata Travel Ltd. to handle travel-related services, including ticketing, for domestic as well as international travel. The proposed subsidiary will complement the foreign exchange service business of Tata Finance Amex Ltd as well as the card business of TFL. The company has also recently tied up with the American Express Bank for its credit card business, besides launching a co-branded card with BPCL last December.
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