Wednesday, March 3, 1999
Timken deal helps Tata Steel exit from non-core businesses
With the US-based Timken set to acquire 80% control in Tata Timken, the stage is set for management control of the Indian operations. For Tisco which held 40% stake in the joint venture, the deal offers an excellent opportunity to exit from non-core business and at the same time generate cash for steel buisiness.
Bombay Dyeing, Warwick University part ways
The Wadia flagship Bombay Dyeing has finally ended its long association with Warwick University, which was at the forefront of a major restructuring operation in the company. The UK-based group, recently roped in by Telco for a major rejig exercise, will not be involved in the operations of Bombay Dyeing on a regular basis.
Lucent unveils wireless solution for networks
Lucent Technologies India Ltd has formally launched its WaveLAN wireless solution in the country. The new product is an integrated system of hardware and software that can extend wireless connectivity to an existing LAN, creating an instant stand-alone network.
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