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Kalyani tie-up with CarpenterKalyani Steels Ltd KSL, the specialty steels manufacturing company of the Rs. 1,600 crore Kalyani group ha...

Kalyani tie-up with Carpenter
Kalyani Steels Ltd KSL, the specialty steels manufacturing company of the Rs. 1,600 crore Kalyani group has reached an understanding with Carpenter Technology Corporation, USA, to set up a new joint venture company, Kalyani Carpenter Steels Ltd for manufacture of high value added steel for domestic and export markets.

The JV agreement was signed in Pune between R W Cardy, chairman, president and CEO of Carpenter and B N Kalyani, chairman of KSL. State Governor Dr P C Alexander was the chief guest on this occasion. According to the agreement Carpenter will subscribe to 26 per cent of equity capital of the new JV, aggregating to Rs. 40 crore. The balance 74 per cent will be owned by KSL. B N Kalyani will be chairman of the company. Besides addressing market opportunities in India, a sizeable production is expected to be exported to Southeast Asia, USA and Europe. Also Carpenter and Kalyani have established a second joint venture, Kalyani Carpenter Metal Centres Ltd which is expected to be operational in the fourth quarter of 1998. The company will open distribution centres in the principal metal consuming areas of India to provide customised inventories, services and just-in-time deliveries of materials produced by manufacturing joint venture. Its first service centre is to be established in Pune within six to eightmonths.

Prestolite set to charge market
Tudor India Limited, a subsidiary company of the US based Electric Storage Battery Company, engaged in the manufacture of Prestolite batteries at Prantij in Gujarat has envisaged making India a major sourcing point for South East Asian markets.

Speaking to mediapersons here, Madan Kotnala, senior vice president marketing and sales, Prestolite Tudor India Ltd said the parent company planned to invest 30 million to increase capacity of the plant from 2,000 batteries per day to 6,000 batteries per day.

With the patented formula of bone dry charge these batteries do not need charging for 24 to 72 hours, which is required for other batteries available in the market. The company has organised a marketing set-up all over India with four regional offices, 14 depots and 136 distributors.

In the Pune market, the distributor is M/s Shanti Ganga Petrochemicals Pvt Ltd, who have three branches Pune, Kasarwadi and Kolhapur and 82 sales and service outlets spread over western Maharashtra.

Board meetings
The meeting of the board of directors of Datapro Information Technology Ltd will be held on July 30, 1998 at its registered office to take on record the unaudited financial results for the quarter ended June 30, 1998.

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The board meeting of Kalyani Forge Ltd is scheduled to be held on July 25, 1998 to consider the unaudited financial results for the quarter ended June 30, 1998.

The meeting of the board of directors of Sulzer India Ltd will he held on July 25 at Mumbai to consider the unaudited results for the quarter ended June 30, 1998.

The unaudited financial results provisional of Deepak Fertilisers and Petrochemicals Corporation Ltd for the quarter ended June 30, 1998 shall be considered at the meeting of the board of directors of the company to be held on July 30, 1998.

A meeting of the board of directors of Swojas Energy Foods Ltd will be held on July 31, 1998 to take on record the unaudited financial results provisional of the quarter ended June 30, 1998.

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A meeting of the board of directors of Spentx Industries Ltd is scheduled to be held on July 29, to consider and take on record the unaudited financial results of the company for the quarter ended June 30, 1998.