Quick view: Clariant to acquire unit of Plastichemix for Rs 135 cr

Updated: Dec 17 2013, 10:12am hrs
The Rs 966-crore Clariant Chemicals (India) said on Monday it will buy out Vadodra-based masterbatch producer Plastichemix Industries for about R135 crore. Following the acquisition, the company aims to double its business over the next five years. Plastichemix Industries has three production facilities at Rania, Kalol and Nandesari in Gujarat. The deal closure is planned for Q1 of 2014.

Alstom to sell property in Bangalore for R120 crore

Alstom T&D India, the Indian arm of the French power generation and transmission firm, on Monday said that it is selling its Bangalore property to a large Indian business groups company for a consideration of around R120 crore. The sale of the land, which was previously used for manufacturing instrument transformers, has been approved by the shareholders of the company, it said in a regulatory filing to the BSE. The sale is subjected to the mutual satisfaction of terms, conditions and obligations mentioned in the Agreement for Sale and is likely to be concluded upon execution of a Sale Deed in three months time or earlier, the filing said.

Hershey to launch Jolly Rancher in India

Aiming to tap the growing Indian confectionery market, Hershey India, a wholly-owned subsidiary of The Hershey Company, will bring the iconic North American sweets brand Jolly Rancher to the country. India is the first international market for the Jolly Rancher brand outside of North America in the brands 65-year history, a release said on Monday. The international expansion of Jolly Rancher in India and other iconic Hershey brands around the world is an integral part of Hersheys global growth vision to achieve $10 billion in annual revenue by 2017.

IndiGo to add 10 flights; Jet to introduce two

IndiGo airlines on Monday said that it plans to launch 10 additional flights on its domestic routes by December 22. Jet Airways also said on Monday said that it will introduce two daily flights from Kochi and Chennai to Dammam in Saudi Arabia from January 15. Meanwhile, Etihad Airways, which recently bought 24% stake in Jet Airways will also be starting direct service from Abu Dhabi to Jaipur from April 1.

AI Express suspends two Oman-Kerala flights

Air India Express has temporarily suspended its two flights from Oman to Kerala, according to a media report. The airline has suspended two services, Salalah-Thiruvananthapuram and Salalah-Cochin-Thiruvananthapuram from January 15 next year, the Times of Oman quoted a senior airline official at the Muscat Air India office as saying. Air Indian Express has been operating three services to the Kerala sector from Oman.

RIL to shut crude unit in Feb for maintenance

Reliance Industries is planning to shut a crude distillation unit at its 660,000 barrels per day (bpd) Jamnagar refinery around early February for maintenance, industry sources said on Monday. They added that the maintenance would likely last around two weeks and the capacity of the unit to be shut was estimated between 320,000 and 330,000 bpd. Reliances spokesman could not be reached on phone.

Reliance Industries to close Delight offering

RIL has decided to close its non-vegetarian food offering format Delight. Despite the sensitive balance of availability and convenience, it was felt that certain sections of customers were hesitant to shop at our other stores, the company said. Delight was present in 11 states and 25 cities with 100 stores. The company also said it has not tied up with any foreign partner for any quick-servicing restaurant business.

Danish co may enter a 4-year deal with TCS

Danish insurance firm Tryg has decided to terminate the its IT operating agreement with Computer Sciences Corporation, Denmark, effective August next year. The insurance provider is planning to enter into a four-year deal with Tata Consultancy Services (TCS), the company said on its website. The agreement will ensure modern and sustainable IT operations in Tryg with an economy meeting the previously announced cost-saving targets. Meanwhile, TCS has fully integrated the ICT infrastructure of Royal Haskoning and DHV in a span of six-months. Royal Haskoning and DHV merged in 2012 under the new name Royal HaskoningDHV. Due to the swift integration, TCS has been upgraded as strategic partner for Royal HaskoningDHV.

ONGC chairman, EIL head win SCOPE awards

ONGC chairman Sudhir Vasudeva and Engineers India head AK Purwaha have been adjudged the best leaders in public sector companies. Vasudeva, 59, won the SCOPE Excellence Award for Individual Leadership in the Maharatna/Navaratna public sector enterprises category, while AK Purwaha got the same award in the Miniratna PSE category.