SWC in debt transfer deal for Mangalore Breweries
Mangalore: Shaw Wallace & Co (SWC) has offered to take over part of the outstanding book debts of the ailing Mangalore Breweries. A SWC spokesperson is reported to have said that the company had received a letter from the South Canara District Central Co-Operative Bank ``giving their consent to transfer debts owed by Mangalore Breweries to its name''. This development is expected would help SWC plan to acquire Mangalore Breweries.

Mangalore Breweries is believed to owe dues to South Canara bank estimated at over Rs 14 crore. The brewery's outstanding liabilities are reportedly in the region of Rs 35 crore. SWC has been in talks with the main creditors of Mangalore Breweries for a comprehensive debt-restructuring plan. The brewery set up three years ago, closed down after being operational for barely six months.
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Reliance likely to get IDBI nod for JCT unit acquisition
Mumbai: The Reliance group's plan for acquisition of JCT's polyester unit is likely to be cleared by the IDBI, when its executive committee meets on March 16. Following IDBI clearance, Reliance and JCT will sign the agreement. The proposed transaction value for the sale of the polyester division is estimated over Rs 150 crore.

While other leading financial institutions (FIs) including IFCI have already given their approval to transfer the unit with its liabilities, IDBI was the only one reluctant to decide on the issue. The proposed acquisition is expected to help Reliance consolidate its leadership position in the polyester industry.
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SAP Labs to spend $125 million on its expansion plans
Bangalore: Sap Labs India, the development arm of SAP AG is planning to invest $125 million towards expanding its operations in India, over the next three years. The company will invest $25 million in the country this year. Mr. Dieter Matheis, member of SAP AG's board has said that 40 per cent of the $125 million would be used towards development of e-CRM projects, while the rest would go into the design and development of mySAP.com solutions, the e-business platform of SAP.

The company's expansion plans also include setting up its own facility in Bangalore, which was expected to be operational by the third quarter of 2002.
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LowenBrau to foray into Indian beer market
Mumbai: LowenBrau Buttenheim, a German beer major is foraying into the Indian market in an effort to tap the growth opportunities in the sector. The company has recently floated a joint venture outfit LowenBrau Buttenheim India, with local promoters.

Mr. Rohit Rewari, one of the promoters and executive director of the local arm has said that the German firm will hold a 40 per cent stake in the joint venture, while the balance will be held by Indian promoters. The initial investment in the venture is about Rs 14 crore and an additional Rs 45 crore is to be made by the year-end. The company has already made a soft launch in certain pockets of Maharashtra, while a national launch is being planned next year.
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Tilaknagar to widen its spirits portfolio
Mumbai: Tilaknagar Industries is widening its product offerings and is set to launch a new whisky branded `Senate' to be followed by a new vodka called `Polka'. The company also has plans to foray into the mineral water segment. The Senate whisky is scheduled to be launched in July, while the company also plans for revamp of the existing Mansion House Whisky. The launch vodka in the brand name of Polka will follow the launch of Senate whisky.

The company has in its portfolio, brands like Mansion House whisky, brandy and gin, Courrier Napolean brandy, Savoy Club gin etc. Mansion House whisky, gin and brandy are manufactured in collaboration with BV Utomij of Holland, while Napolean Courrier brandy is manufactured in collaboration with Altair, France.
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Vikas WSP to set up Rs 70-cr polymer unit
New Delhi: Vikas WSP Ltd., the world's second largest guar gum producer, is setting up a 4,200 tonne per annum (tpa) hydroxypropylguar (HPG) and carboxymethylhydroxyproplylguar (CMHPG) manufacturing facility at its existing plant in Sriganganagar in Rajasthan. The new unit is being set up at an estimated cost of Rs 70 crore financed primarily through internal accruals.

The company is setting up a similar value-added guar gum plant at Baroda, having an annual capacity of 12,600 tonne per annum. This plant will go on stream in October this year and will make Vikas WSP the world's largest producer of guar gum and polymers.

The company's existing four plants have a combined capacity of 39,900 tonnes per annum. The new products, HPG and CMHPG, find application in exploration of oil and natural gas from the geo-thermal hot wells. The new unit will commence commercial production in May/June this year.
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Samsung launches CDMA mobiles
New Delhi: Samsung Electronics India Information and Telecommunications (SEIIT) has launched its first mobile phone using code divisional multiple access (CDMA) technology in the country. The company also announced the launch of three cellular handsets based on GSM technology.

Mr. K S Kim, managing director, SEIIT has said that company was planning to make an investment of around $1 million over the next six months to establish a 50-odd sales and service centre network for its telecom business. Samsung India Electronics Ltd., a separate subsidiary for the consumer electronics business, manufacturers and markets non-telecom and non-information technology consumer durables such as televisions and white goods.

Samsung's CDMA phone range is one of the largest selling in the world. Subscribers of Mahanagar Telephone Nigam’s CDMA-based portable telephony are using some of these phones. Indian market was expected to have two million subscribers of CDMA technology this year and this offers vast opportunity, which Samsung is aiming to tap.
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Electrolux plans 60 per cent growth
Kolkata: AB Electrolux, Swedish white goods major is expecting a quantum jump of 60 per cent in turnover in India through its three group companies in the next financial year. The surge in the company's turnover is sought to be attained by new product lines to be launched throughout the year.

The company has already introduced new washing machine range 'Electrolux Maxclean' and is planning to also launch air-conditioners. Electrolux will also bring a new frost-free range of refrigerators in June 2001. These products are expected to net addition to company's turnover. In the year 2000, the company achieved a turnover of Rs 750 crore this is expected to go up to Rs 1200 crore in 2001.

The company also wants to consolidate the Allwyn brand, which operates through Electrolux India. Presently, the brand is having a mere 6-7 per cent market share which is expected to touch 10 per cent next fiscal.
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Modi Revlon set to bring home Ultima II, Almay
Mumbai: Modi Revlon is planning to introduce two of its global brands, the Ultima II and Almay ranges in the Indian market. The company will launch Ultima II and Almay brands from the global portfolio of Revlon. The company is currently believed to be working on the launch schedule for new brands. Ultima II and Almay will be targeted at the urban elite -- the premium segment, while Revlon caters to the mass-premium market.

Revlon is the world leader in cosmetics, skin care, fragrances and personal care. Its products are sold in over 175 countries and territories. The brands include Revlon, ColorStay, New Complexion, Revlon Age Defying, Almay, Ultima II and Flex range of shampoos and conditioners and fragrances, including Charlie and Fire and Ice Revlon which made their presence in India in 1994, through a tie-up with the Modis. The 76:24 joint venture has Revlon holding 24 per cent stake and the balance by the Modi family.
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Ranbaxy gets $5-million payment from Bayer
New Delhi: Ranbaxy has received a $5-million cheque from Bayer towards the second milestone payment for the novel drug delivery system (NDDS) of anti-infective drug ciprofloxacin which it is developing for the German pharma major. The payment has been made on successful completion of the phase 1 trials of the drug in the US by Bayer Ranbaxy had successfully scaled up to commercial size the NDDS of ciprofloxacin. Bayer has already used the samples from the scaled up batches for trials in the US.

Ranbaxy has already got a total of $15 million so far out of the total $65-million license fee the domestic pharma major is to receive from Bayer for developing the NDDS of ciprofloxacin. It had earlier received $10 million from Bayer as the signing fee, when the two entered into the joint development agreement mid-last year.
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Accenture to advise RPG Life improving operations
Mumbai: RPG Life Sciences has appointed Acenture to suggest measures improve the overall productivity and profitability of the company's pharmaceutical business. Accenture will address areas ranging from supply chain management to enhancing field force productivity. The consultant will suggest measures aimed at improving doctor call average, besides looking into areas like yield improvement, bettering the procurement process and a possible reduction in the number of shifts at the company's plants.

The entire exercise has been divided into three phases. Pilot implementation of the various recommendations is expected to be complete by the end of April. Benefits from the exercise are expected to start accruing to the company by end-fiscal 2001-2002.
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Philip Morris to launch Tang in India
New Delhi: Philip Morris is set to formally launch an international health drink called Tang in the Indian market. The company which has more international brands like Kraft cheese, Toblerone and Milka chocolates, salad oils, pastes, dips and spreads in its portfolio is planning a further spread out in the market at a later stage.

The brands will be launched through Philip Morris’s 100 per cent food subsidiary, Kraft Jacob Suchard, registered in India as KJS India Pvt. Ltd. Tang will be manufactured in India in at the company’s plant in Hyderabad, which has been set up with an initial investment of Rs 50 crore. KJS has also lined up a distribution company to market the drink. KJS has also lined up a company to market Tang as a premium product targeted at the urban consumer.

Tang is currently available in the upmarket stores through the import route costs Rs 130 for half kilo pack.
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