Veronica Labs to double capacity
Veronica Laboratories plan to double its capacity by setting up a new formulation unit-cum-research & development centre at Rabale, New Bombay. This facility planned at a capital outlay of Rs. 15 crore is being funded from internal accruals, preferential allotment to promoters and institutional investors. The plant shall commence commercial production by December, 2000. On completion, the new unit is expected to contribute Rs30 crore to the company's turnover every year.Bayer board meet on March 23
The board of Bayer India Ltd will meet in Mumbai on March 23, to take on record the audited financial results for the year ended December 31, 1999.
HOCL CMD bags fellowship
Chairman and managing director of Hindustan Organic Chemicals, Dr Reena Ramachandran, has been elected a fellow of the Indian National Academy of Engineering for her contribution to the field of science and engineering. Dr Ramachandran has also been nominated into the expert group set up by the department of education, ministry of human resource, Government of India to formulate policy perspectives for management education.
Eicher rolls out new model
Eicher Tractors on Monday announced its foray into the higher horse power segment by rolling out a 61 HP tractor in collaboration with Valtra Inc of Finland. The company has targeted farmers with more than 30 acre land holding for the new model "Eicher Valtra 6100" which would carry a price tag of about Rs 4.5 lakh. The new tractor was rolled out from Eicher's MP plant by the state Chief Minister Digvijay Singh. It would be formally launched in the next few months.
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