MUMBAI, June 7: Kimberly-Clark Corp said that it has launched Huggies diapers in Poland and will increase production capacity at its diaper plant in Barton-upon-Humber, England, to meet growing demand for Huggies diapers in Europe. Since 1995, the company has introduced its diapers, tissue and other products in 18 countries in the region and established sales offices in Russia, Poland and the Czech Republic. In a press release, Kimberly-Clark said this latest capacity addition, combined with an expansion project already under way at Barton, will increase production at the facility by more than 50 per cent.

World Bank approves $820 mn loans for Russia: The World Bank approved nearly $820 million in loans for Russia to help the country overhaul its economy and resume growth, bank sources said. The sources, who declined to be named, said the biggest credit -- a $600 million structural adjustment loan -- would support wide-ranging reforms throughout Russia and help the financially-strapped country provide needed public services.

FPA to acquire Healthcap Inc: FPA Medical Management Inc and Healthcap Inc said they signed a definitive agreement for FPA to buy Healthcap in a stock-for-stock merger. FPA said the merger would expand its services to Missouriand Nevada and is expected to increase its 1997 revenues on a pro forma basis to more than $1 billion. The merger would be accounted for as a pooling of interests and is expected to close at the end of June, FPA said. FPA said the merger will be immediately positive to earnings through the consolidation of corporate and market operating expenses.

VNU sets Swedish marketing info venture: Dutch publisher NV Verenigd Bezit VNU said that it had set up a marketing information joint venture in Sweden in partnership with the Swedish firm EBC Information. VNU said the joint venture marked the entry of its Claritas Europe marketing information services unit into the Nordic region of Europe. The Dutch company described EBS Information as a market research firm with some 20 employees and operations in Sweden, Norway, Finland and Denmark.

Tele Danmark says unaware of any BT plans: Danish telecoms group Tele Danmark said it had no knowledge of any plans by British Telecommunications Plc to take a stake in the 51 per cent state-owned Danish firm. "We know nothing about the British Telecom talk, nor have we had any contact with them," Tele Danmark deputy director Kirsten Fjord told Reuters. "We must first see what the Danish state plans to do with its shareholding in Tele Danmark," she added. Rumours of BT plans to take a stake in the Danish telecoms operator caused the share to rise 14 crowns to 335.00 crowns.

Dragon Oil sets 3-for-5 rights issue: Irish oil exploration and production group Dragon Oil Plc said it planned to offer up to 3.24 billion new ordinary shares at 2.0 (British) pence. Dragon Oil said the three-for-five rights issue was expected to raise around 62.5 million sterling net of expenses and help fund offshore drilling in Turkmenistan and an appraisal programme for a gas discovery in Thailand. Dragon Oil said its two largest shareholders Satellite Overseas Limited (SOL) and Sinophil Corporation had agreed to take up their entire entitlements of 1.5 billion and 603 million new ordinary shares respectively. representing 46.8 per cent and 18.6 per cent of Dragon's issued capital.

Frogmore buys shop centre from Norwich Union: Frogmore Estates Plc said it had bought a shopping centre from Norwich Union for 29.85 million sterling. Frogmore said in a statement that 25.9 million sterling has been paid for the St Nicholas shopping centre in Sutton, in southwest London, with the balance to be paid on April 1, 1998. The centre comprises around 375,000 square feet of retail accommodation. The current net rent receivable is 2.4 million sterling a year, showing Frogmore a net initial yield of 7.9 per cent on cost.

Volvo truck deliveries fell in Jan-May: Volvo Trucks said its worldwide truck sales fell six per cent to 26,017 in the first five months of 1997 compared with 27,577 in the same 1996 period. Volvo said European deliveries fell 14 per cent to 13,431 in the first five months of this year, but deliveries in all other sectors rose. North American deliveries rose three per cent to 7,894, South American deliveries rose 13 per cent to 2,330 and deliveries to other markets rose four per cent to 2,362 for the five-month period.

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