Sunday, October 11, 1998
Chauhan, Coca-Cola uncork soda wars
When partners turn foes, the battle becomes murkier. This is what's happening between Ramesh Chauhan of Thums Up fame and Coco-Cola. Partners in the cola business are now openly slugging it out in the soda segment. The battle of the fizz started with the recent termination of agreement between Chauhan and Coca-Cola for marketing the Bisleri Soda. Chauhan is promoting and marketing Bisleri himself while Coke has quickly retorted by launching its own soda brand, Kinley.
Sonata Software plans Rs 23-crore off-shore facility
Sonata Software plans to set up an off-shore software development facility in Bangalore at an estimated cost of Rs 23 crore. In addition, the company is also plans to open offices in Japan and Germany to target those markets. Sonata, to fund these expansion plans, is planning an initial public offering (IPO) by the end of the year.
Titex Plus eyes Rs 1cr turnover by December
Titex Plus, the wholly-owned German subsidiary of Sandvik AB, manufacturer of precision cutting tools for general industrial applications began its operations in India in September and expects to achieve a sales turnover of Rs 1 crore by December 1998. Titex India, the 75:25 joint venture formed by Sandvik AB, Netherlands, and Sandvik Asia, respectively, with a share capital of Rs 13 crore, has invested about Rs 20 crore in plant and machinery, and in three weeks of operations starting September 15, has an order booking of Rs 40 lakh.
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