Terex Vectra Equip. launches Indian operations
New Delhi: Construction equipment maker Terex Vectra Equipment has announced the launch of its Indian operations with an initial investment of $12 million (around Rs 53.4 crore). Terex Vectra Equipment, a 50:50 joint venture between US-based Terex Corporation and Vectra of the UK has set up a greenfield facility in Greater Noida near Delhi to make a range of construction equipment. The company has targeted a 10 per cent market share in the first two years of operations in India. Initially the company would make vibratory loaders and skid steer with two more products - vibratory compactors and midi excavators - to be made available by the year-end.

A $4 billion (around Rs 17,808 crore) company, Terex is the world's third biggest construction equipment maker. Its joint venture partner in India, Vectra, is a $1 billion (around Rs 4,452 crore) British firm promoted by NRIs. Vectra operates in India through Tatra Trucks, Vectra Azad, Vectra Advanced Engineering and Global Helicopters. Both Vectra and Terex are also joint owners in Czech truck maker Tatra with 11 per cent and 81 per cent equity respectively.
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ABB targets household market
Bangalore: ABB Ltd has launched a new range of wiring accessories including switches, regulators and sockets for the Indian market. According to the company with this new product range, ABB aims to tap the Rs 800-crore organised household electrical switches and accessories market in the country, a segment, which is growing at 12-15 per cent annually. The total size of Indian household electrical equipment market is pegged at Rs 1,600 crore, half of which is accounted for by the unorganised sector. ABB sells close to $400 million of such products globally.
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Aarti Drugs for an API facility in China
Mumbai: Aarti Drugs Ltd (ADL), which develops processes for active pharma ingredients (APIs) and intermediates, is planning to have an API manufacturing facility in China to route its exports to regulated markets as well as the Chinese markets. According to the company, the Chinese facility would be used to manufacture high-potential molecules, especially tinidazone and nimesulide, apart from undertaking contract manufacturing as it can be done at lower costs. Also, as part of its plans to sharpen its focus on the Chinese and Japanese markets, the company is negotiating with a few Chinese companies to form a joint venture for exporting its products to China.
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Tata Power board to meet
Mumbai: The Tata Power Company Monday will meet on May 12 to discuss plans to raise funds for the company's present and future needs. Tata Power currently has a 1,000-MW plant in northern Uttar Pradesh, the 1,000 MW Maithon power project, the 1,000 MW plant at Vile, Maharashtra and a 330 MW Srinagar plant along with the 120 MW Jojobera expansion projects on its funding list.
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Reliance Industries raises prices
Mumbai: Reliance Industries Ltd has raised the prices of four of its petrochemical products. Prices of polyester intermediary products mono-ethylene glycol was raised to Rs 47.75 per kg from Rs 45.95 per kg last month, purified terephthalic acid price was raised to Rs 39.90 per kg (Rs 38.50 per kg), while partially oriented yarn prices are Rs 71 per kg (Rs 70 per kg). Polyvinyl chloride will cost Rs 47 per kg (Rs 46.50). The company announces changes in product prices every month in line with changes in international prices.
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PFC to go for $100 million ECB
New Delhi: The Power Finance Corporation (PFC) has obtained permission from the government to go ahead with an external commercial borrowing of $100 million. The funds will be utilised to fund power projects, as part of PFC's lending programme. So far, PFC has borrowed $3.8 billion from the overseas and Indian markets and on lent it to various power projects.
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HEG to pay 30 per cent dividend
New Delhi: Graphite Electrode manufacturer HEG Ltd, a LNJ Bhilwara Group company, has reported a net profit of Rs 51.02 crore on a gross income of Rs 480.60 crore for the year ended March 31, 2004. The board of directors of the company has recommended a dividend of 30 per cent for the financial year 2003-04.
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Hewitt Associates: Best employers in India 2004
New Delhi: Hewitt Associates, a global human resources outsourcing and management consulting firm, has announced the launch of the 'Best Employers in India 2004' research study in association with CNBC India. According to a Hewitt statement the 'Best Employers' research is conducted globally by the consulting firm in India, Australia, Europe, North America, South America and across eight markets in Asia.

The 'Best Employers in India 2004' study is open to all organisations in the country which have been established for a minimum of three years and employ not less than a total of 250 full-time employees. Organisations interested in participating in the study can either contact Hewitt Associates, or apply through www.BestEmployersIndia.com or send an e-mail to BestEmployersIndia@hewitt.com. Applications are to be submitted no later than May 25.
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Ashok Leyland to go for ZF gearboxes
Chennai: Ashok Leyland Ltd has signed a collaboration agreement with ZF of Germany for the local manufacture of ZF's 9-speed synchromesh gearbox. The agreement also provides for making available to Ashok Leyland the manufacturing technology and process improvements for ZF's proposed successor to the gearbox. ZF is a world leader in transmission. Ashok Leyland has also tied up with Hino of Japan for the manufacture of advanced J-series engines for heavier trucks. The ZF gearbox would make the transmission compatible with the powerful (260 hp) J engine.
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Pratishta to launch bio-fertilisers and pesticides
Hyderabad: Pratishta Industries Ltd (PIL), a biotechnology company, will launch bio-fertilisers and bio-pesticides. The process technology for the products has been obtained from the Regional Research Laboratories of Jammu, according to a company release.
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