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Journalism of Courage
Gillette acquires `Geep’
MUMBAI: Gillette has acquired the Geep brand for battery flashlight, Geep’s Mysore manufacturing facility, sales force and distribution facility from Geep Industrial Syndicate Ltd. Gillette has also entered into an agreement with Geep to source batteries, flashlights and bulbs from its facilities in Allahabad, Indian Shaving Products Ltd, owner of Gillette Brands in India, said on Friday. Market sources said Gillette acquired the Geep business at around Rs 95 crore.
Amrita Patel is NDDB chairperson
NEW DELHI: The centre has appointed Amrita Patel as chair person of the National Dairy Development Board. Patel replaces V Kurien who sought retirement from the post which he held for over two decades. NDDB sources said that Kurien, who scripted the country’s white revolution, was the longest-serving chairman of any statutory body in India. Patel till now was the NDDB managing director.
Auto Rubbers to merge with Srichakra
CHENNAI: The board of directors ofTVS Srichakra Ltd has approved the amalgamation of a closely held group company Auto Rubbers Ltd with TVS Srichakra Ltd. The surprising part of the scheme is the share swap ratio, which will be 41 shares of TVSL for every 10 shares of Auto Rubber Ltd. Auto Rubbers with a paid-up capital of Rs 11.66 lakh and a net worth of Rs 74.36 lakh as against Srichakra’s paid-up capital of Rs 7.18 crore and net worth of Rs 20 crore. Performance-wise too Srichakra is by far the better company with a turnover of Rs 134.65 crore (`97-98) and while Auto Rubber’s turnover is a mere Rs 5 crore. Srichakra’s net stood at Rs 7.45 crore.
Adidas
MUMBAI: Adidas India launched its first television commercial, "Full tension", starring cricketing legend, Sachin Tendulkar. Adidas had signed the Indian cricketing hero for promoting their products nine months ago. "After the last nine months of association with Adidas, I am happy with my decision and look forward to a mutually beneficial partnership," Tendulkar said.
