Financial Daily from THE HINDU group of publications
Thursday, Jan 26, 2006


Group Sites

Corporate - Overseas Investments
Corporate Results - Automobile Components

Tube Investments to invest Rs 30 cr in China plant

Our Bureau

Chennai , Jan. 25

TUBE Investments of India Ltd, a Murugappa group company, plans to invest about Rs 30 crore in a greenfield precision tube manufacturing facility in China.

According to the Tube Investments' Chairman, Mr M.A. Alagappan, the plant will have an initial capacity of 12,000 tonnes a year, which will be scaled up. The plant is expected to begin production in the first quarter of 2007, he told Business Line.

The company is looking at sites in Suzshou and Kunshan, in the Shanghai region, and expects to make a decision by February end. Tube Investments is looking for about 20 acres of land for its plant.

Net profits up: For the quarter ended December 31, 2005 the company reported a net profit of Rs 37.46 crore on net sales of Rs 369.15 crore against a profit of Rs 26.48 crore on sales of Rs 330.06 crore for the same period last year. Other income was Rs 22.77 crore, which included Rs 21.07 crore the company got from sale of investments.

In the first nine months of this financial year, TI's net profit was Rs 92.25 crore on income of Rs 1,102.09 crore compared to a net profit of Rs 61.49 crore on an income of Rs 1,045.47 crore for the corresponding period last year.

A company press release said that though there was a slack in the passenger car segment, growth in motorcycle and commercial vehicle segments ensured higher offtake of precision tubes. The export of tubes was marginally lower compared to the previous quarter, mainly on account of slowdown in the North American auto industry.

More Stories on : Overseas Investments | Automobile Components

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Caught fire

Brand valuation of Tata cos moves up to Rs 24,396 cr
L&T-Samsung Heavy consortium bags ONGC order
Power Finance public offer slated for April-June — Merchant bankers to be appointed shortly
Synygy plans foray into new markets
JB Chem to raise funds by pref issue; net up 24 pc
Madras HC clears BPL Cellular's capital reduction programme
E-filing facilities: Cabinet nod for ordinance to amend Companies Act
Novartis loses patent claim on cancer drug — Patents Controller upholds Natco contention
Dunlop EGM approves takeover by Ruia group — `Company need not go for open offer'
Sundram Bleistahl flags off first consignment — Targets Rs 135-cr turnover in seven years
Rama Newsprint okays capacity expansion plan
Jindal to set up refinery, smelter plants in Vizag
NALCO plans expansion
`Toyota yet to finalise new plant location'
Tube Investments to invest Rs 30 cr in China plant
Sanyo-BPL joint venture takes off — Eyes Rs 2,000-cr revenues in 3 years
Hikal hopes to get European nod for 3 APIs by April
ONGC-Reliance PMT venture wants MRPL, instead of IOC, to lift oil
Reliance for inorganic growth to reach global leadership
Narottam Sekhsaria is new ACC chairman

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line