17/03/2008
Malu Paper signs MOU with
Government of Maharashtra
Malu Paper Mills has signed MOU with Government
of Maharashtra on 15 March 2008 for setting up mega
expansion project.The main features of the project are
installation of two machines viz. (PM-III) Newsprint
paper machine of 49,500 MTPA capacity along with 6MW
captive power plant and (PM-IV) the writing & printing
paper machine of 82,500 MTPA along with 15 MW captive
power plant.The phase I of the said project i.e. PM
III has already commenced the commercial production
and on the completion of the mega project, the company
will be eligible for incentives and benefits such as
exemption from payment of electricity duty, stamp duty
and industrial promotion subsidy etc. as per the current
industrial policy of the State of Maharashtra and PSI
2007.
18/03/2008
JBM Auto in JV with Italy's
Magnetto
JBM Auto has entered into 50:50 venture with
Magnetto Automotive, Italy for manufacturing skin panels,
body, welded parts and subsystems for 4-wheeler original
equipment manufacturers in Pune--Tata, Fiat Tata, Volkswagen
group. The will be named JBM Magnetto Automotive and
established at Chakan, Pune.Magnetto is a major supplier
of upper and lower body structures, inner and outer
pannels, doors and lid systems. JBM Auto has also entered
into 1:1 joint venture with Sandhar Technologies to
form a consortium for operating and maintaining the
tool room and technical service centre of Pithampur
Auto Clusters. Consortium of JBM Auto and Sandhar Technologies
has been awarded the work of operating and maintaining
the tool room and technical service centre of Pithampur
Auto Clusters at Hernia Khedi, Madhya Pradesh.
19/03/2008
DCM Shriram's subsidiary
acquires entire stake of its joint venture partner
DCM Shriram Consolidated's 100% subsidiary,
Shriram Bioseeds (SBL) Mauritius has acquired the joint
venture partner's entire 49% stake in the hybrid seed
business for a total value of approximately US$ 13.32
million. DSCL already owns 51% stake and management
control of this business.The hybrid seeds business offers
high yielding hybrid seeds for corn, cotton, rice, millet
and vegetables. The business has built a strong research
base and has extensive production, processing and sales
and distribution network. It is poised for aggressive
growth in coming years with a strong product pipeline.
The business operates in India, Vietnam, Philippines
and Thailand, and is building presence in new overseas
markets.DSCL has very extensive agri presence in India
comprising agri-inputs (fertilizers, pesticides, seeds,
micro-nutrients etc.), agri output and its pioneering
rural retail initiative Hariyali Kisaan Bazaar. Full
ownership of Hybrid seed business will enable DSCL to
achieve better integration of this business with its
overall agri business, and expand the product portfolio
in other countries, where Hybrid Seed Business operates
as standalone businesses so far.
19/03/2008
IEC Softwares Ltd.
has considered and approved the proposal for
acquisition and merger of VEF Information Systems Pvt
Ltd, a Company providing various educational and support
services to certain private educational institutes in
North India, providing engineering and management education
to students at graduate and post-graduate levels.IEC
is keen in exploring the organic as well as inorganic
initiatives to expand in the field of Education and
thus is willing to acquire VEF since VEF already has
a good client base. The acquisition shall be done by
way of merging VEF with IEC. The Scheme shall be subject
to requisite consent / approval of the requisite majority
of the shareholders and creditors of the Companies,
the Hon'ble High Court of Delhi the permission or approval
of any other statutory or regulatory authorities, which
by law may be necessary for the implementation of the
Scheme.
19/03/2008
Kale Consultants enters
into a deal European co.
Kale Consultants has entered into a contract
with Finnair Cargo, one of the leading cargo carriers
in Northern Europe, under which Kale will provide a
complete outsourced airmail cargo revenue accounting
service to Finnair Cargo.This service will be carried
out at Kale's managed process services centre in Mumbai.
Airmail information, including CN38s, will be scanned
in Finland and in Mumbai. Kale will then process the
documents and generate invoices to postal authorities
and airlines on behalf of Finnair Cargo. In addition,
the service will include the full revenue accounting
and production of management information for mail operations
and it will use its own cargo revenue accounting software
solution, CSP-AMBER to support this service.Kale Consultants
will provide outsourced revenue accounting services
to many airlines, this is our first airmail BPO contract.
We intend to grow this business in the coming year.
I believe our business understanding, BPO track record,
and CSP-AMBER software bedrock will provide a compelling
proposition for many airlines, said Peter O'sullivan,
Head of Cargo and Logistics Practice at Kale Consultants.
20/03/2008
DQE, Pritish Nandy ink
pact to produce six movies
Bollywood production house Pritish Nandy Communications
(PNC) and DQ Entertainment (DQE), a Hyderabad-based
animation, gaming and VFX company, today entered into
an agreement to co-develop and co-produce six movies
in the next three-four years. The budget for the movies
will be $45-50 million (Rs 180-200 crore). The agreement
will see the two companies co-producing movies both
in animation and live action, targetting the global
audience. Each project will be separately announced,
once the co-production budgets are closed. 'DQ is a
world leader in high-end animation and film content
space, and the range and quality of their work has impressed
us,' Pritish Nandi, chairman of PNC, stated in a press
release.
