Panel moots Bharat Petroleum, Cochin Refineries strategic pact
A five-member committee headed by former chairman and managing director of Cochin Refineries (CRL) J Jayaraman has suggested a strategic alliance between CRL and Bharat Petroleum Corporation. The committee, which was asked to prepare a suitable restructuring proposal for CRL, submitted its report to the company's board of directors recently.
JCT move to opt out of valuation bid puts the lid on unit selloff
JCT has walked out of its agreement with Polysindo involving an independent valuation of its synthetic-fibre wing by KPMG Peat Marwick. This virtually seals the fate of the much-touted takeover deal. JCT has attributed the move to Polysindo's failure to bring in any money in the country after the deal was signed over six months ago.
General Insurance, subsidiaries fall short of growth targets
The all-round industrial slowdown has pulled down the business growth of general insurance companies, which nosedived during 1997-98 for the second consecutive year. The industry -- comprising four subsidiaries and the apex General Insurance Corporation (GIC) -- has recorded only a 13.5% growth in 1997-98 against 16% during 1996-97 and 22% in 1995-96.
Cadbury to pump money into brands
Cadbury India, which has made substantial capital investments to upgrade its facilities in the past two years, is expected to make major brand-related investments in 1998. Rajeev Bakshi, managing director of the company, said that brand-related investments will be the next logical step.
Thirumalai Chem to unveil six new products, plans capacity expansion
Thirumalai Chemicals is planning to introduce six more products for the epoxy industry by the end of this financial year. There will be a new plant with a capacity addition of 10,000 tpa, and 90% of the products are targeted for the export market.
CLB respite for Gillette in Malhotra feud
Gillette International has been relieved by the the Company Law Board (CLB) from being impleaded in the family feud of Harbanslal Malhotra and Sons (HLM), manufacturer of Topaz Blades. The board, in its interim order, said "With Gillette having no current or pending agreement regarding supply of technology to Harbanslal Malhotra as such the ground on which the applicant (Gillette) be impleaded no longer exist".
