ABB to double capacity at automation division
Bangalore: ABB is planning to double capacity in its automation division's facilities and expand the product range to leverage its strength of being most comprehensive to further consolidate its presence.

The expansion would take place in the next three years to meet the rapidly growing demand for its automation products offering motors, drives low voltage products with expansion in capacity and strengthening its distribution systems for speedier delivery to customers.

The company's automation products division is growing at 30 per cent, much higher than the ABB India's growth and contributed $200 million.

The company also plans to set up a new plant at Haridwar to produce low voltage distribution electrical units to support its recently launched electrical wiring accessory (automated switching and control systems for home and institutions), capacity expansions for high voltage machines, low voltage motors and instrumentation in other units. Recently, ABB inaugurated two new units in Bangalore for manufacturing control gear and motors.

The company plans to set up its own inventory storage infrastructure with IT support in key regional centres to achieve speed to market and reduce the distribution cost.
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Financial restructuring for Sakthi Sugars under CDR scheme
Coimbatore: Sugar major Sakthi Sugars is undertaking financial restructuring under the Corporate Debt Restructuring Scheme (CDR). This restructuring is expected to help the company save about Rs eight-nine crore every year on interest cost.

Pursuant to the approval of the CDR Empowered Group the company has repaid all the loans and redeemed the preference shares and debentures covered under the CDR scheme and availed of fresh term loans from financial institutions and banks at lower rates.

The company had redeemed 12-lakh Redeemable Cumulative Preference Shares of Rs 100 each aggregating to Rs1200 lakh subscribed by ICICI and Karnataka Bank, partly convertible redeemable debentures (subscribed by IDBI, IFCI and ICICI) aggregating to Rs752.61 lakhand non-convertible redeemable debentures aggregating to Rs3539.40 lakh - subscribed by banks.
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Ballarpur Ind signs agreement with Maharashtra govt
Mumbai: Ballarpur Industries (BILT) and the Maharashtra Government have signed a memorandum of understanding (MoU) for the capacity expansion of its paper plant at Bhigwan in Pune. The proposed two-phase capacity expansion will cost Rs1,200 crore. The plant produces coated and uncoated papers.

In the first phase, an additional 1.40 lakh tonnes capacity would be added at Bhigwan with an investment of Rs500 crore which would be put into operations by 2008. In the second phase, another 1.60 lakh tonnes capacity would be added with an investment of Rs700 crore, and is scheduled to be put into operations after 2008. The company also plans to build a 100 MW power plant at Bhigwan for additional power requirements. The fuel would be coal-sourced from the Indian and the Indonesian market.
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Wipro Infra acquires Swedish co Hydrauto
Bangalore: Wipro technologies' subsidiary, Wipro Infrastructure Engineering (WIN), has acquired 100 per cent stake in the Sweden-based Hydrauto Group AB (Hydrauto) for $31 million in all cash deal.

WIN with revenues of $57 million is a major player in precision engineered hydraulic components and solutions in India. It is a Tier-1 supplier to Original Equipment Manufacturers (OEMs) of construction and earth moving machinery, material handling equipment, heavy and medium commercial vehicles among other industries, in India and the rest of Asia.

The $112-million Hydrauto, provides hydraulic components and solutions in Europe and is a Tier-1 supplier to OEMs of material handling equipment, forestry equipment, construction and earth moving machinery.

Wipro informed the BSE that the acquisition has given the company a unique Asia-Europe footprint and would be completed by Q3 of 2006-07, subject to customary closing conditions and regulatory approvals.
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Godrej Ind to develop SEZs on own land
Mumbai: Godrej Industries would develop a portion of its own land into a couple of Special Economic Zones (SEZ), of which one would be one could be an IT SEZ said Adi Godrej, chairman, the Godrej group.

Godrej Industries is planning to acquire companies in China among other major developing countries in the personal and household care segment. It is also looking at acquiring companies in Egypt.

Indonesia, Pakistan, Brazil, Bangladesh, Nigeria and Mexico. Last year Godrej acquiring Indian company Nutrine, Rapidol in South Africa and Keyline Brands Ltd. in UK with an investment of Rs400 crore.
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Nahar Industries to get into real estate biz; plans retail expansion
Mumbai: Fully integrated textile company, Nahar Industries Enterprises (NIEL), is planning a foray into real estate to utilise its surplus land in Ludhiana. The company said it plans to use the property that it does not require for industrial and manufacturing activities and develop it into commercial or residential complexes.
The company also has big plans for its readymade menswear brand Cotton County.

Currently, there are 110 exclusive franchise retail outlets in Tier I and Tier II cities across India. By March 2007, the company will add more than 250 outlets. For the year ended March 2006, the company recorded a turnover of Rs750 crore, of which retail accounted for Rs 36 crore. For the year ended March 2007, the company expects retail turnover to cross Rs100 crore.
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Kinetic to launch Indo-Italian scooter models
Ahmedabad: Kinetic Motor Company will soon launch six new Indo-Italian scooter models in India and abroad in the next three years. Kinetic Motor recently launched Blaze priced at Rs 51,000 the first of the seven models that it acquired from the Italian major, Italjet Moto last year.

The remaining six models of the Italiano series, designed by the house of Tartarini, will be launched in a phased manner in the next three years or so. A family scooter, Euro, the second model after the 165-cc Blaze, is being launched in the next two to three months. As part of its strategy to recapture the scooter market, the company has also appointed about 50 new dealers across India. Kinetic has two manufacturing units at Pithampur near Indore and Ahmednagar near Pune.

The Ahmednagar unit is also foraying into export of automobile components. Currently, Kinetic has no plans for any further expansion and was not in the SEZ race either, he added.
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Claris to enter Philippines
Ahmedabad: Claris Lifesciences is all set to enter the Philippines pharmaceutical market with its range of sterile injectable products and the company may set up a manufacturing facility there in the next couple of years. Official sources said concrete proposals are likely to be finalised when the Philippines President, Gloria Arroyo, visits New Delhi in March 2007.

Philippines has a pharmaceutical market worth $1.5 billion. Sources said as medicines imported from Western companies' medicines were expensive Claris could be the leader in inculcating a feeling that even Asian pharma companies, particularly Indian, could supply the best of medicines cheaply.
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Satyam gets Rs135-cr order from Punjab & Sind Bank
Hyderabad: Satyam Computer Services has entered into a 10-year Rs135 crore ($30 million) contract with Punjab & Sind Bank to implement and maintain the Core Banking System (CBS) for the bank.

Under the deal Satyam has been mandated to provide networking facility for 500 Punjab & Sind Bank branches, host data and disaster recovery centres, and provide networking and facility management.

This will be Satyam's first CBS implementation and its first multi-year facilities management projects from the domestic market. Under this project, Satyam will implement and support CBS and Branch Infrastructure for 300 Punjab & Sind Bank branches covering trade finance, treasury and government business applications and enterprise management.

Consequently, Punjab & Sind Bank will soon be able to offer anytime banking via the Internet as well as numerous other options that will enhance customer satisfaction and loyalty.
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TCS Gujarat SEZ to be functional by 2008
Ahmedabad: TCS' 20-acre Special Economic Zone being developed in Gandhinagar district in Gujarat will start functioning in about 18 months from now and emerge as a showcase for information technology destination in India, a company official said today. TCS is also working to develop one-lakh square meters in two blocks located just opposite InfoCity near the State Capital. This facility would be 2,200-seater and work for applications development, software, Information Technology and IT-enabled Services (ITeS).

Earlier, TCS entered into an agreement with the Gujarat Government to upgrade technology talent by imparting short-term programs in `hot' technologies to about 3,000 engineering students across 34 colleges in the State. The joint programme will help students upgrade their technology and programming skills, enhance communication and presentation skills, in areas like Java technologies, which are in demand currently. This joint initiative, christened as "Suryodaya" has been launched State-wide following a successful two-day pilot project involving 1,200 students across 10 colleges last month.
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Air Deccan enters into $150mn MRO pact with Lufthansa
Mumbai: Budget airline Air Deccan has signed a $ 150 million agreement with Lufthansa Technik for repair and overhaul of its Airbus fleet of aircraft.

Under the deal Lufthansa and its Indian subsidiary, Onestop Airline MRO Support will independently serve the fleet of 60 Airbus A-320 airplanes of Air Deccan.

Lufthansa will also set up a regional pool of pairs in India to support its operators here.

The agreement also includes setting up of a home of spares support for the low-cost carrier in Bangalore.
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SpiceJet registers Rs18-cr loss in June-Aug quarter
Mumbai: Budget airline SpiceJet has registered a Rs17.81 crore loss for the quarter ended August 31, 2006 as against Rs10.81 crore for the corresponding period last year. Total income however, rose to Rs180.33 crore during the reporting quarter when compared with against Rs66.26 crore for the quarter ended August 31, 2005.

The company blamed high fuel prices coupled with weak demand for the loss for the August quarter. The airline said it had incurred the lowest loss among all other airlines.

The expenditure for the airline rose to Rs194.68 crore for the quarter ended August 31 against Rs75.37 crore for the corresponding quarter of previous year. The operating loss of this no-frills airline was at Rs 14.35 during the reporting quarter against Rs9.10 crore for quarter ended August 31, 2005.
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L&T to invest $150mn in Middle East, China
Mumbai: Infrastructure major Larsen and Toubro (L&T) plans to invest upto USD 100 to 150 million over the next 18 months in setting up a modular fabrication facility in the Middle East and a switchgear manufacturing plant in China.

The company is also looking for a joint venture partner for rubber processing in China. The company would finance the proposed overseas investment through internal accruals and debt.

The order book position of the company, as on August 31, stood at Rs30,000 crore, of which close to 18 per cent was from overseas.

The company had earlier mentioned that it would develop a huge facility for ship building in India which can construct large vessels, including very large container carriers.
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