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Tuesday, August 18, 1998

Corporate Briefing 

 
Asiatic Oxygen declares indefinite closure: The Asiatic Oxygen & Acetylene Company Ltd's management has declared `closure' for an indefinite period from Monday, according to the Janata Kranti Party president TS Srinivasan. In a statement in Calcutta on Monday, he alleged that the closure declared by the management was due to the `misconduct of 14 union leaders.' He has urged the managing director Amal Kumar Jalan to settle the dispute and reopen the office immediately. State labour minister Shanti Ghatak's intervention has been sought for resolving the issue.

Englehard Environmental starts output at Chennai unit: Engelhard Environmental Systems, a 70:30 joint venture between the US-based Engelhard Corporation and the Chennai-based Ucal Fuel Systems Ltd, has commenced production at its Maramalai Nagar facility near Chennai. This is the first catalytic converter plant in the country. With an initial capacity of one lakh coatings, the company plans to focus on light passenger cars before movingonto two wheelers by the year 2000. The company claimed to have already secured orders from two major car manufacturers in the country.

VSNL, DoT set up Internet node at Silchar: The Videsh Sanchar Nigam Ltd (VSNL) in association with the Department of Telecommunications (DoT) has set up an Internet node at Silchar in Assam. This is the second Internet node in the state after Guwahati and the 40th in the country. Due to the setting up of this node, Internet access will be available for the first time to the people of Silchar and its neighbouring areas.

Geometric Software ties-up with Spatial Technology: Geometric Software Services Ltd on Monday announced its technology licensing agreement with Spatial Technology Inc, the developer of 3D modeling component technology, for a special design function called `healing.' Based on this healing technology, Spatial Technology will introduce `Acis Healing Husk.' This will enable users to correct the majority of inconsistencies in model geometry tocreate high-fidelity `acis sat' models, Geometric Software managing director Manu Parpia said. The Godrej group company expects to hike its turnover from Rs 11 crore to approximately Rs 200 crore in the next five years, he said.

Heyes Lemmerz hikes stake in local venture to 85%: Hayes Lemmerz International Inc, the supplier of wheels and brake components to the transportation industry worldwide, has acquired an additional 60 per cent equity in its domestic joint venture, Kalyani Lemmerz Ltd. Hayes now holds 85 per cent of Kalyani Lemmerz's equity and the remaining 15 per cent is with the Kalyani group companies. "This acquisition serves to strengthen our presence in the fast-growing local vehicle market and also expands our network of manufacturing facilities and enables us to follow our customers around the globe," Hayes European fabricated wheel business president Klaus Jinger said.

Basu to inaugurate ACC complex in Calcutta: The West Bengal chief minister Jyoti Basu will inaugurate ACC'sadvanced materials complex at the Salt Lake city on Tuesday. The company has invested Rs 35 crore in the complex. It houses an advanced microwave materials centre and a demonstration centre for diamond-like nanocomposite coatings (Dylyn). The advanced microwave materials centre has been set up to manufacture a wide range of microwave ferrites and dielectric materials. The technology for the products has been sourced from the UK-based Hiltek Materials Ltd.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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