The Hindu Business Line : Saturday, March 23, 2002

It's `reorganisation' not stoppage of production, says Maruti
WITH reference to the news item `Bid to rejig manufacturing processes. Production stopped at one Maruti unit' (Business Line, March 21, 2002), Mr Kanwaldeep Singh, AGM, Corporate Communications, Maruti Udyog Ltd, writes: The ... More

Toyota-Kirloskars equation unlikely to be disturbed
That the Japanese company wants to continue the cordial relationship it has enjoyed with the Kirloskar business group is evident with the new business it is planning to set up in Karnataka with the Kirloskars in the area of auto components. More

Zuari to consider capital infusion into cement arm
ZUARI Industries Ltd (ZIL) today informed the BSE that an EGM of the company would be held on April 18 to consider investing a sum not exceeding Rs 53 crore in the equity capital of Zuari Cement Ltd (ZCL). The other items to be considered ... More

Essar Shipping board meet on March 30

Nohria quits Greaves board

PREFERENTIAL ALLOTMENTS

Preferential placement for funds -- ITI in negotiation with BSNL
STATE-owned telecom equipment manufacturer ITI Ltd has approached Bharat Sanchar Nigam Ltd for large preference share placement on the lines of Mahanagar Telephone Nigam Ltd. Company sources said that negotiations were still on with BSNL for the ... More

COURTS/LEGAL ISSUES

Wage dispute: HC rules in favour of Malco workers
THE Madras High Court has held that workers who had worked during the closure of the Mettur-based Madras Aluminium Co Ltd from April 1, 1992 to October 1994 were eligible to be paid their wages irrespective of the settlement dated September 22, ... More

RESTRUCTURING

HLL to transfer Diversey Lever to Johnson Wax
HINDUSTAN Lever Ltd plans to transfer its Diversey Lever business as a going concern to Johnson Wax Professional Pvt Ltd, a 100 per cent subsidiary of SC Johnson Commercial Markets Inc. USA, at a value of Rs 55 crore. In November 2001, Diversey ... More

MERGERS & ACQUISITIONS

TotalFina in talks with Exxon to buy out LPG business
OIL major TotalFinaElf is in talks with Exxon Mobil for buying out the latter's LPG business in India. The deal is likely to be completed within a "couple of weeks", according to a TotalFinaElf official. "We are negotiating for buying out Exxon ... More

Japanese partner hikes stake in CG Igarashi
Officials of CG Igarashi Motors told Business Line that this was a part of the collaborator's creeping acquisition strategy. More

Paying Melodeon: Grasim seeks shareholders' nod
GRASIM Industries is seeking shareholders' consent to pay Rs 15 crore to Melodeon Exports, Mumbai, for taking over the company's textile unit located in Gwalior. Grasim will pay this amount in instalments spread over a period of 90 days from ... More

ALLIANCES & JOINT VENTURES

Aurobindo, Citadel in 50:50 joint venture
AUROBINDO Pharma Ltd (APL), the Hyderabad-based Rs 1,000-crore pharma major, has entered into an alliance with Citadel Fine Pharmaceuticals Ltd (CFPL) for promoting a 50:50 joint venture called Citadel Aurobindo Biotech Ltd (CABL). In a press ... More

DIVERSIFICATION

HealthScribe plans to diversify
The approximately $6-billion medical transcription industry needs to outsource work because of a shortage in capacity in the US. However, the quality of work determines whether a company can survive or not. More

OUTLOOK

It'll be break-even for Pepsi under Bakshi
FOR Mr Rajeev Bakshi, the 44-year-old newly appointed Chairman of PepsiCo India, the task ahead is unlike that faced by any of his predecessors. In due course, he will drive the soft drinks major to break-even status ever since it began ... More

Barista targets Rs 100-cr turnover
Barista's current business model, with its retail chain of 76 outlets, occupies the `leisure time' of a typical customer, which in turn is internationally estimated at 16-17 per cent of that customer's total available time. More

Tyco group sees 15 pc rise in sales
MULTI-PRODUCT engineering group Tyco expects to report sales of close to Rs 391 crore in the current financial year for its local operations, up 15 per cent over last year's Rs 340 crore. Tyco operates in the country through three wholly-owned ... More

PEOPLE

NIPM fellowship for Apollo Tyres V-P

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