Tags:
Journalism of Courage
Credit Agricole
MUMBAI: Credit Agricole Indosuez reaffirmed its long-term commitment to banking in India. Whilst in India to introduce Alain Butzbach as the new senior country officer for India, Patrice Couvegnes, senior vice-president, head of corporate banking for Asia Pacific for Credit Agricole Indosuez announced that the bank is finalising its new strategy for the country. The strategy is based upon the provision to customers of the bank located in India, the bank8217;s expertise in corporate banking, treasury products and project finance. The bank8217;s products are complemented by activities of the stockbroking subsidiary Indosuez W I Carr Securities India Pvt Ltd.
Orient Twister
MUMBAI: Orient, the Calcutta-based fan making major, has launched its latest air superiority weapon 8211; Twister. Centered around the core value of incomparable air delivery, the Twister fan has all the hallmarks of an Orient PSPO thoroughbred, in terms of a high PSPO value and air delivery of a whopping 15600cu m/hr, wider blades, large motor six, larger top ball bearing to enhance mechanical life and with blade profiles adjusted for optimum aerodynamic efficiency.
MUMBAI: The application of Balaji Distilleries Ltd BDL for an external commercial borrowing of 50 million is at an advanced stage and expected to be concluded by March 1999. BDL has also embarked on a road-show in Europe to raise a FCCB of 32 million. This efforts were met with a very positive response, manifesting in a hard-underwriting of 26 million. Its Rs 85 crore brewery project near Chennai is slated for production by March 1999.
Sony Corp
MUMBAI: As part of its diversification programme, Sony Corp India is entering into the lucrative computer software and hardware activities. It has tied up with Pace Software Solutions, which will be extending technical support to the company in developing necessary software solutions as per the requirements of clients both on offshore and onshore basis, apart fromregular training and consultancy services.
Crystal group
MUMBAI: Om Household Appliances Pvt Ltd, a subsidiary of Crystal group, has been appointed as the official India national distributors for Corning Consumer Products Ltd, USA 8212; producers of glass and ceramic materials. The official launch was held recently.
50 from VMCL
MUMBAI: Vidhan Mercantile Company Ltd VMCL, a software solutions company, has recommended an interim dividend of 50 per cent for the current year. The company presently has export orders on hand worth 0.75 million and expects to wind the current year with a total sales of Rs 4 crore.
Claro India
MUMBAI: Kothari Plantation amp; Industries Ltd has entered into an agreement to acquire 24.95 of paid-up equity share capital of Claro India.
Alchemie Organic
MUMBAI: Alchemie Organic, the agrochemicals manufacturing company under the Alchemie group umbrella, has registered an impressive jump in its net profit from Rs 33.70 lakh to Rs 163.87lakh during half year ended September 1998. The net sales increased to Rs 21.55 crore from Rs 13.43 cr, an increase of 60.
Johnson Intl
MUMBAI: Johnson International, UK, one of the top five ceramic tile companies in the world with manufacturing locations in the UK, Greece, South Africa, Australia and India, has planned to source wall and floor tiles from India for the world market.
Vam to buy Nira plant
MUMBAI: As part of a restructuring plan, Polychem Ltd has decided to sell its unit situated at Nira, Taluka Baramati District, Pune to Vam Organic Chemicals Ltd for a total consideration of not less than Rs 13.50 crore, according to Polychem8217;s letter to the Bombay Stock Exchange BSE.
The letter further said that the company has entered into a project service agreement with Mahindra Reality amp; Infrastructure Developers Ltd for the purpose of availing and securing comprehensive technical, financial management, construction, administrative and marketing services for development anddisposal of its property situated at Swami Vivekand Road, Goregaon West, Mumbai.
GeoLogistics
MUMBAI: GeoLogistics Limited, a subsidiary of the 1.6 billion logistics services company GeoLogistics Corporation, on Thursday announced the launch of its operations in India. The company will initially focus on traditional freight forwarding services and extend it to technology-intensive supply chain management services in the second phase.
Speaking at the launch, Roger E Payton, president and CEO of GeoLogistics Corporation, said the company would start functioning from 15 Indian cities covering all metros and industrial locations. In the coming months, it will offer time-bound end-to-end freight forwarding services for air and sea, he said. Internet based on-line tracking will be available within a year.
Clients can outsource their entire supply chain management to the company, Andrew Birtley, CEO for India, said. India spends upwards of 12 per cent of GDP on transport and logistics compared tounder 10 per cent in developed countries, and the demand for efficient supply chain management solutions is estimated to be huge, according to the company.
New IGCC chief
MUMBAI: Kamal Meattle has been elected as president of the Indo-German Chamber of Commerce IGCC for 1998-99. Meattle is director and CEO of Paharpur Business Centre and PBC Sotware Technology Park and Constituted Attorney, Paharpur Cooling Towers.
Udo-E Land has been appointed vice-president of the Indo-German Chamber of Commerce. Land is Managing Director of Flender Ltd in India and responsible for sales and marketing in the ASEAN countries and Australia.
Bombay Breweries
MUMBAI: Bombay Breweries, Taloja, a unit of United Breweries Ltd became the first Indian brewery to get the ISO 9002:94 certification for the manufactureof beer owing to its effective implementation of quality management systems. This brewery was the first green-field project of the UB group and is spread over a plot of 8 acres.
