Monday, June 29, 1998
Ipicol to sell its stake in Orissa Extrusions to Indal and Hydro Aluminium SA
Indian Aluminium and Hydro Aluminium SA of Switzerland have decided to up their stake in Orissa Extrusions, a joint venture for value-added extrusion products, by buying out the entire stake of the Industrial Promotion and Investment Corporation of Orissa Ltd (Ipicol).
FedEx plans to invest $50 m over next five years in India
The $11.5-billion international express-transportation company, Federal Express Corporation (FedEx) plans investments of around $50 million over the next five years in a bid to exploit the potential of the vast Indian market. It proposes to increase its presence and market share in the country by further venturing into the areas of customer service, sales resources, marketing, promotional campaigns and advertising.
Mahindra Ford puts turbo-diesel Escort plan on backburner
Faced with a major slump in the luxury-car segment, Mahindra Ford India has put its plans to introduce the 1.8-litre turbo-diesel version of the Ford Escort on the backburner. The company, however, is going ahead full stream with its plans to introduce a hatchback and a sports version of the Escort.
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