The ECGC chairman, B B Sharma, said the ECGC has signed an MoU with Government of India for settlement of claims.

Kinetic launches Daewoo monitors
MUMBAI: Kinetic Communications Ltd (KCL) in association with Daewoo Electronics Company Ltd has launched the full range of Daewoo colour monitors for the Indian market. The colour monitors will be manufactured from CKD kits supplied by Daewoo at the Pune factory of KCL and sold under the Daewoo brand name.Jung in Hahm, brand sales manager (worldwide), Daewoo Electronics, said the company planned to be among the top five suppliers by 2001.

Modern Insulator
MUMBAI: The participation of Modern Insulator Ltd in the recent Hannover Fair'98 has evoked excellent response from insulator buyers. Leading switchgear manufacturers in Europe have placed bulk orders for hollow insulators and for solid core post insulators.

MicroWorld to swap F-Secure

MUMBAI: MicroWorld System would swap its anti-virus product F-Secure with that of Dr Solomon's products for the latter's customers free of charge, Microworld managing director Govind Ramamurthy said.

"When Network Associates took over Dr Solomon's operations world-wide, updates of the anti-virus solution to most Indian customers ceased. We want to step in and protect their investment," he told a press conference here recently.

"MicroWorld will honour the remaining license period for any of Dr Solomon's anti-virus customer who switches to F-Secureanti-virus," he stated. However, the customer will have to hand over the original licence.

Ferrite plant
MUMBAI: Ajay Piramal, chairman, Piramal Enterprises, inaugurated a new hard ferrite plant at the manufacturing unit of G P Electronics Ltd at Ambad MIDC in Nashik. Developed at a cost of Rs 15 crore with technical assistance of TDK Corporation of Japan under a tie-up agreement, the expanded facility will double the production capacity of hard ferrite from 1800 tonnes to 3600 tonnes per annum.

Roofit Ind
MUMBAI: Roofit Industries, the flagship company of the Motwani group has achieved sales of Rs 72.34 crore during the year ended June 1998 against Rs 66.93 crore last year for the 15-month period. The operating profits have moved up by 37 per cent from Rs 15.28 crore to Rs 16.72 crore, despite no dividend income from 100 per cent subsidiary. It has earned a net profit of Rs 7.16 crore against Rs 9.35 crore for previous period.

Hind Photo
MUMBAI: Hindustan Photo FilmsManufacturing Company Ltd (HPF) and Phil Corporation Ltd (PHIL) have entered into a strategic marketing alliance. With this alliance between two companies, PHIL's proven expertise in marketing and HPF's wide experience in quality manufacturing come together. The consumers will benefit from this alliance which will bring out world-class medical X'Ray film as also other products for professional photographers and the printing industry.

Nilgiri's
MUMBAI: Nilgiri's Chocolate and Patisserie, a unit of Rs 150 crore Nilgiri's group of South India, has launched a range of 10 brands of chocolates in Maharashtra. The total range of product of the company is more than 80. The Nilgiri's group, set up 93 years ago, in involved in bakery, confectionery and dairy products.

Samsung India
MUMBAI: Samsung India Electronics has revolutionised the existing CTV size segments in the Indian marketplace by launching 22" and 30" colour televisions as part of its new Vision Plus series. The Vision Plus seriesrepresent a breakthrough in technology achieved by it with Samsung being the only company in the world offering these models. The new range is constituted by four models, two each in 30" and 22" size segments.

Boshu Technics
MUMBAI: Boshu Technics Corporation has launched its 32-bit version of its Enterprise-wide document lmaging and management software DigiOffice 2000. It is a powerful, intuitive and easy-to-use software based on the graphical user interface of MS Windows. It enables the user to store documents digitally in the same document-folder-cabinet hierarchy as it is done in a physical storage system.

South Indian Bank
MUMBAI: South Indian Bank reported a growth of 30.57 per cent in deposits and 26.76 per cent in advances during 1997-98. With this, its net profit has climbed from Rs 7.7 crore to Rs 20.74 crore. Including the fresh capital by way of a rights offer and private placement, plus the augmentation of tier II capital, the bank's capital adequacy ratio stands at a 9.40per cent against the benchmark of 8 per cent stipulated by RBI.

Hayes
NEW DELHI: US-based auto component maker Hayes Lemmerz International Inc. hs acquired an additional 60 per cent equity in Kalyani Lemmez Limited to raise its stake in the joint venture to 85 per cent.

With this acquisition, the Kalyani group's stake in the joint venture that manufactures steel wheels for automobiles has shrunk to 15 per cent, a company release said here today.