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Tata Steel to go for capacity expansion
Mumbai:
Tata Steel has said that its board has approved the company's
2.4-million-tonne capacity expansion programme at an estimated
cost of Rs 7,800 crore.
This would be financed through internal accruals and long-term
borrowings. The project is likely to be completed by 2009.
Tata Steel, which currently produces 4 million tonnes
at Jamshedpur, is undergoing a one million tonne expansion
programme which would be completed by September 2005.
With the addition of 2.4 million tonnes, the capacity
at Jamshedpur would increase to 7.5 million tones. Tata
Steel's saleable steel production for the first quarter
of current fiscal has grown by three per cent to 1.02
million tonnes.
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HLL to push ayurvedic products
Pune:
Over the next three years, Hindustan Lever plans to
push its Ayush brand of health and beauty care products,
along with its branded Ayush therapy centers. Work on
this project has already begun with at least a hundred
of the top performers among direct marketing consultants
being given comprehensive training in the finer nuances
of ayurveda by collaborator, Arya Vaidya Pharmacy.
The
company's ayurvedic cough syrup, 'Naashak', is already
being marketed and the company is all set to introduce
a beauty and complexion cream in its personal care range.
The company plans to launch the ayurvedic beauty cream
in the next few weeks. With a Rs 2,000-crore market for
such products, currently dominated by a clutch of players
at the national level and regional-level players like
Zandu, HLL is determined to get a slice of the lucrative
pie.
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Maruti
to roll out new-look Esteem
New Delhi: After rolling out the Maruti Zen in
a new avatar, Maruti Udyog is set to launch the new look
version of the mid-size car Esteem. The new Esteem will
have considerable changes in the bonnet, the grill, on
the rear and in the interiors, industry sources said.
Sales of the Esteem, which is available in five variants,
grew by 10 per cent in the last year to about 11,500 units.
Earlier this year, Maruti had rolled out a cheaper variant
of its other A3 model Baleno. The last year had seen the
company roll out new look versions of the Zen and the
WagonR.
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Voltas
to provide after sales service to Siemens
Hyderabad:
Voltas Ltd of the Tata group would provide after-sales
service to the home appliance products of the German major,
Siemens, through a network of 640 service centres across
the country. RBS Home Appliances, the sole distributor
of Siemens' home appliance products in India, has entered
into an alliance to this effect with Voltas. Siemens home
appliances were currently being marketed mainly in the
West and South, and the new alliance with Voltas would
enable the company reach out to all markets across the
country. The products are currently available in all product
categories such as washing, dishwashers, refrigeration,
cooking and small appliances.
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Bharti
Infotel deploys Tellabs 6300
Bangalore: Bharti Infotel, a unit of Bharti Tele-ventures
group, has selected Tellabs 6300 managed transport system
to enhance and expand its bandwidth capacity, according
to Tellabs. Tellabs is a leading provider of transport
network solutions, especially in the Asia Pacific markets.
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Continuous
Computing opens Indian centre
Bangalore: The US-based Continuous Computing, solutions
provider for telecom equipment, has announced the setting
up of its wholly- owned subsidiary and development centre
here. The company plans to invest $3 million to expand
its Indian operations over the next few years, a company
statement said. The Indian development centre will provide
pre and post sales support for customers in the high-growth
Indian market as well as the entire Asian region.
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Anchor
in joint venture with British General
Bangalore: Anchor Electronics and Electricals Pvt
Ltd (AEE) has set up a new business unit with British
General of UK as joint venture partner to launch premium
British General accessories. The new company, Anchor Woods
Pvt Ltd, plans set up two greenfield manufacturing facilities
with an initial investment of Rs 15 crore with a projected
turnover of Rs 10 crore. Anchor will have a 74 per cent
share in the new venture, Anchor Woods, and it hopes to
scale up its sales to Rs 20 crore in about three years.
The Rs 500-crore Anchor Group, a leading player in a range
of electrical goods such as fans, lighting and bulbs,
and modular switches has identified Uttaranchal as one
of the locations for its new manufacturing facility. Anchor
Woods with an initial authorised capital of Rs 5 crore,
will also aim at making a foray into exports in a big
way. With a buy back arrangement with British General
and huge potential in SAARC markets, Anchor expects to
boost its exports from the current three per cent.
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