Electrosteel in talks with UK company
Kolkata:Yorkshire Water Services Ltd (YWSL), a £ 600-million turnover public utility major in the UK belonging to the Kelda Group, is now in talks with Electrosteel Castings Ltd (ECL) for purchase of Ductile Iron (DI) pipes and fittings (on 50:50 basis) on a long term contract (minimum of three years) for meeting domestic requirements. The contract is worth Pound £ 10 million, and is expected to be finalised by end March.The Kelda Group is a Pound £ 1 billion enterprise with core competence in water and sewerage, and related services.
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Starline to hold travel mart
Coimbatore:Starline Travels, an associate of the LMW Group has proposed to hold a travel mart in Coimbatore on February 22 and 23. The decade-old company, which was hitherto focusing on ticketing business alone, is now aiming to organise package tours to suit every budget.
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MK Electric to be Novar's global manufacturing hub
Chennai: Novar Plc, a conglomerate with an interest in building solutions such as electrical accessories and fire alarms, plans to make its Indian subsidiary, MK Electric (India), into a global manufacturing hub for electrical products.
According to Mr David A. Green, Regional Managing Director (Middle East, India & Africa), Novar International, the company is keen on using MK Electric's Chennai-based manufacturing centre into a global supply unit.
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Award for Pepsi's Madurai plant
New Delhi:Pepsi’s Madurai bottling plant has won the Golden Peacock National Quality Award for the second successive year, according to a company statement issued here. The award was set up by the Institute of Directors (IOD) in 1991 to encourage total quality improvements.
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Raymond buys Rs 35-cr equity in Colorplus
Chennai: Raymond Ltd has invested Rs 35 crore in the first phase of its acquisition of Colorplus shares. Mr P.K. Bhandari, Deputy Group President, Raymond Ltd, said that the remaining equity would be mopped up after a period of 39 months. The funding for the acquisition is from internal accruals, he said. FACT Shuts Down 2 Plants Over Financial Crisis, Fuel Price Rise.
Fertilisers and Chemicals Travancore Ltd (FACT), has issued orders to shut down its plants at its Kochi and Udyogamandal divisions owing to a severe financial crisis. While the ammonia and caprolactum plants have already been shut down, only minimal production activity is going on to avoid total closure, sources said.
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ONGC irons out crude supply pact with HPCL
New Delhi:When an exploration company, Oil and Natural Gas Corporation (ONGC), enters the refining business through acquisition of Mangalore Refineries and Petrochemicals Ltd (MRPL), domestic refiners like Hindustan Petroleum Corporation Ltd (HPCL) have reason to worry since they source their crude supply from the upstream major.
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Honda lines up 4-stroke 150cc scooter
New Delhi:Two wheeler manufacturer Honda Motorcycles and Scooters India is all set to stir up some excitement in the lacklustre domestic geared scooter market.
Top sources said that the company is readying for the launch of a geared scooter that has been developed exclusively for the Indian market towards the middle of this year.
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Cadbury Chocki Going Global
Mumbai: Cadbury Schweppes Plc is now going to roll out its mass market chocolate product, Cadbury Chocki developed in India, to other international markets. For the first time, a product that was primarily developed by Cadbury India, is now spreading its wings to offshore locations. And the countries include Kenya, Sri Lanka, Egypt and Bangladesh.
It was only last year that the company rolled out Chocki which is priced at Rs 2. In addition, it is also planned that India will be the sourcing hub for the Southeast Asia business of Cadbury Schweppes plc.
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CSIR in pact with Indigene Pharma
New Delhi: THE Council of Scientific and Industrial Research (CSIR) has joined hands with Indigene Pharmaceuticals, a bio-pharmaceuticals company to deliver safe and cost-effective medicines and an agreement to this effect was formalised here today.
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Biocon in tie-up for oral insulin
Bangalore: Biocon India today announced a three-way Scottish research tie-up to develop novel oral insulin.
The city-based biotech major will work with Hannah Research Institute of Scotland and its offspring venture, FFAST Solutions Ltd, to develop the revolutionary oral insulin based on Hannah's proprietary technology.
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BIFR door shut for Mardia Chem
New Delhi: Mardia Chemicals Ltd (MCL) has become one of the first companies to be relieved by the Board for Industrial and Financial Reconstruction (BIFR) since banks and financial institutions (FIs) have moved against them to recover dues under the Securisation Act, 2002.
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BIFR confirms winding up of HPF - Says Govt `buying time'
New Delhi: The Central Government, promoters of the ailing Hindustan Photo Films Manufacturing Co Ltd (HPF), has been charged with `buying time' by the Board for Industrial and Financial Reconstruction (BIFR). The BIFR bench, while confirming its prima-facie opinion of winding up the company said, "It is a clear case of GoI buying time."
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IOC aims at 30% share in Lanka
Kochi: Indian Oil, as part of its globalisation plans, has drawn up a blueprint for Sri Lanka covering retail marketing, aviation fuel services and bulk storage terminal, Mr M.S. Ramachandran, Chairman, Indian Oil, has said.
"The company has taken over 100 petrol stations by forming a wholly owned subsidiary, Lanka-IOC Ltd in this regard. Of this, 25 stations will be converted to meet IOC's exacting international standards before the end of the current financial year and the remaining by September, he said at a press conference here on Friday.
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