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: USL acquires Tern Distilleries for Rs 13 cr
The country's largest liquor manufacturer United Spirits Ltd announced the acquisition of Vishakhapatnam-based alcoholic beverages maker Tern Distilleries Pvt Ltd for Rs 13.42 crore. "The share acquisition is for a consideration of Rs 13.42 crore," United Spirits Ltd (USL) said in a filing to the BSE. After the acquisition Tern has become a wholly-owned subsidiary of the company, the filing said.
Cryolor's project
French industrial gas tank maker Cryolor's manufacturing facility in Chennai will start operations in July 2010. "Work on our first project overseas in Chennai is on full swing and we will start production in July 2010. We intend to manufacture 300 cryogenic tanks in the first phase," Cryolor Asia Pacific Project manager Olivier Riboulet said.
M&M hints at price hike
Farm equipment and utility vehicles major Mahindra & Mahindra said it could consider effecting a price hike due to rising input costs. M&M president for automotive sector Pawan Goenka said here on Monday that there has been a surge in commodity prices, especially that of rubber and sheet metals, which has resulted in pressures on margins.
NIIT, Hitachi in pact
NIIT Technologies, said it has joined hands with Japan-based Hitachi Information Systems to offer cloud computing services. "With the tie-up, the companies will offer complete portfolio of services around the cloud infrastructure to cater to the changing IT landscape," NIIT Technologies' CEO, Arvind Thakur, said.
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