Indian Oil stymies bid for internal pool account
The internal pool account proposed by the oil companies may not materialise with the Indian Oil Corporation (IOC) making it clear that it will bear only a part of the costs incurred in marketing decontrolled products. IOC will lose heavily if it were to subsidise freight and transport costs given that it has already taken a beating with the fall in prices of some decontrolled products.
Suzuki Motors eyes $150m expansion of Hungary plant
Suzuki is considering investing another $150 million to expand the production of its Hungarian production facility. No final decision has been made on the plan, which would double the company's current investment in Hungary to date.
Mahindra British Telecom to acquire office space
Mahindra British Telecom has firmed up plans to acquire about 70,000 square feet of the Oberoi complex at Chandivali. The deal for about 48,000 square feet of office space has been signed between the company and Wellworth Developers of the Oberoi group of builders.
HLL puts wool-on leather unit on block
Detergents major Hindustan Lever Ltd (HLL) is disposing of its wool-on leather unit located at Marungur in Tamil Nadu in view of uncertainties and financial difficulties of the original buy-back collaborator. The company, which recently made an exit from the catfish business due to poor results, is in the process of finalising the disposal of its wool-on leather project.
It is revamp time at Jain Irrigation
The Jalgaon-based Jain Irrigation group has undertaken a major corporate and financial restructuring exercise for better utilisation of money and human resources. It hopes to net nearly Rs 35 crore from the phased sale of non-core businesses and surplus real estate.
SAIL draws up marketing strategies to combat losses
The Steel Authority of India (SAIL) has chalked out a number of marketing strategies to make up for the losses incurred in 1997-98. These strategies were drawn up at SAIL's two-day annual sales conference which concluded at Ranchi on Tuesday.
