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Friday, September 03, 2004

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ANNOUNCEMENTS
Maruti procurement goes global
THE country's largest automaker Maruti Udyog is embarking upon a procurement programme to source components globally from the most competitive suppliers. "We are going in for world-wide procurement or WWP, which means sourcing components from ... More

Ashok Leyland to roll out BS III vehicles from Jan
ASHOK Leyland Ltd has drawn up plans to roll out the entire range of Bharat Stage (BS) III compliant vehicles from January 2005 to meet the Union Government's pollution control norms to come into force on April 1, 2005. Speaking to newspersons ... More

TVS to launch entry-level bike this month-end
TWO-WHEELER manufacturer TVS Motor is set to launch an entry-level motorcycle `TVS Star' by the end of this month and has earmarked an investment of about Rs 200 crore towards new product development this fiscal. The company is also planning ... More

IISCO plans to double capacity
The IISCO MD said the cost of the expansion programme would be around Rs 400 crore to Rs 500 crore. More

Hi-Tech, US partner to make parts for General Motors
LEADING auto components maker, Hi-Tech Gears, along with its US partner Getrag Gears, is jointly developing components for supply to General Motors. Though declining to provide more details about the project, Mr Deep Kapuria, Chairman and ... More

PRIVATE PLACEMENT
Temasek picks Apollo shares
CHENNAI: Apollo Hospitals' shareholders on Thursday cleared a private placement of 5 per cent of equity shares to Singapore's Temasek Holdings at Rs 246 a share. The Executive Chairman of Apollo Hospitals, Dr Prathap C. Reddy, told the ... More

CORPORATE DISPUTES
File original wills, HC tells G.P. Birla — Next hearing on September 8
MR Justice K.J. Sengupta of the Calcutta High Court today dismissed two petitions filed by Mr G.P. Birla, Mr K.N. Tapuria and Mr P.K. Khaitan seeking to file a notarised photocopy of the wills of M.P. Birla and his wife, Priyamvada Birla, ... More

CORPORATE BONDS
Crisil upgrades Finolex NCD
CRISIL has upgraded the rating of Finolex Industries Ltd's Rs 50 crore NCD issue from AA to AA+. The upward revision in the rating follows the current upturn in the poly-vinyl chloride (PVC) price cycle. Another determinant has been the cost of ... More

MERGERS & ACQUISITIONS
Forbes plans to buy out Electrolux in Eureka joint venture
FORBES Gokak Ltd has said that it is planning to acquire Electrolux AB's 40 per cent stake in Eureka Forbes Ltd, the joint venture between the two companies. Forbes said its board on Thursday authorised the company's Deputy Chairman and ... More

Rico Auto in talks to acquire 2 European cos
LEADING auto components maker Rico Auto Industries on Wednesday said it is currently in talks to acquire two component firms based in Germany and the UK. "Both companies are manufacturers of niche products. We should take a decision about the ... More

NEW PROJECTS
EPE Process Filters' EOU
HYDERABAD: EPE Process Filters and Accumulators Pvt Ltd, a Techni Aids Group company, is setting up a 100 per cent export-oriented united (EOU) in association with K&H Eppensteiner GmbH and Company of Germany. The EOU, a 50:50 venture, ... More

SICK UNITS
Spentex on path to recovery
THE ailing Baramati-based Spentex Industries Ltd, manufacturers of cotton yarn, which has an accumulated loss of Rs 55 crore, seems to have found itself a cash-rich partner in the Delhi-based CLC Global Ltd. CLC took over Spentex from the RPGs ... More

OUTLOOK
KCP Sugars plans to invest Rs 30 cr to strengthen operations
AFTER a turnaround in 2003-04 due to buoyant sugar and alcohol prices, KCP Sugar and Industries Corporation Ltd expects to better its performance in the current year. Pepped up by the performance, the company is planning to make capital ... More

PEOPLE
Luthra to head M&M arm
MUMBAI: Mahindra & Mahindra Ltd (M&M) has informed the stock exchange that Mr Hemant Luthra, Executive Vice-President (Corporate Strategy), will head the newly formed Mahindra Systems & Automotive Technologies (MSAT) Sector. Mr Luthra ... More


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