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Sunday, July 26, 1998

Bizbits

 
Otis Elevator net profit at Rs 1.83 cr
MUMBAI:
Otis Elevator Company (India) has registered a gross profit of Rs 4.36 crore and a net profit of Rs 1.83 crore in the first three months of operations of the current year. Announcing this to shareholders at the company's annual general meeting, Keshub Mahindra, chairman said that the company had orders worth Rs 495 crore as on June 1998.

Syntel Inc
MUMBAI:
Syntel Software Ltd, the Indian subsidiary of Troy, Michigan-based, Syntel Inc has opend its expanded, state-of-the-art global development centre at Seepz. This company provides offshore software development services to various clients of Syntel Inc.

Kerala Chemicals
MUMBAI:
Kerala Chemicals & Proteins Ltd is now embarking upon a scheme for forward integration to produce gelatine. The scheme costing Rs 78 crore is to be part financed by rights issue of Rs 31.50 crore. The working on said project for manufacture of 2000 tonnes gelatine per annum is being implemented and slatedfor completion by October 1998.

LG Electronics
MUMBAI:
LG Electronics India Pvt Ltd, the wholly owned subsidiary of the Korean giant LG group has declared Rs 125 crore sales turnover for the first quarter ended June 1998. For this year, LG has set target of Rs 400 crore. LG has recently launched health ACs, CFC-free refrigerator, express cool, multiwave microwave, direct cool fresh machine refrigerators and punch wash semi-automatic washing machines successfully.

Blue Star
MUMBAI:
Blue Star Elevators has obtained a government license for the manufacture and maintenance of lift.It has already installed number of different types of elevators and has recently bagged order from a company as far off as Turkministan in Russia.

Garment Fair
MUMBAI:
The Clothing Manufacturers Association of India is organising the 35th National Garment Fair from July 28 to 31 at New Standard Engineering Complex, Goregaon, Mumbai. The fair will have 250 stalls and 100 show windows. About 6,000domestic dealers and more than 100 foreign buyers are expected to visit the fair.

Bell South
MUMBAI:
Bell South Enterprises Ltd (BSEL), a software solutions company has been granted 100 per cent export oriented unit status by the Software Technology Park of India.The company is planning to open branch offices at New York, Los Angeles in USA, Toronto, Canada, Hongkong and London as part of globalisation of the business activities.

Amit Spinning
MUMBAI:
Amit Spinning Industries, a 100 per cent EOU of the Keshavlal Talakchand group has been awarded a ISO 9002, an international recognition for quality management systems for production installation and servicing. The company's yarn is exported to Mauritius, Canada, Australia, Korea, Egypt, Hong Kong and Italy.

Finishvel
MUMBAI:
Finishvel Furnitures India Ltd has launched a unique space consuming bunk beds. Named Nidra, the beds are made of high grade steel pipes in a most modern production line, powder coated in their own plantwith specially developed process in attractive colours to give lasting and enduring life, confirming international standards. Nidra bunk beds are designed for adult usage and can be used as a double bed or a single bed, as required. The bed can be dismantled with ease for transportation purpose. The product's cost ranges from Rs 2,750 to Rs 14,500.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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