Tata Toyo Radiator and Australia-based Air International Thermal Systems (AITS) on Wednesday said they have formed a 50:50 JV to manufacture and sell air- conditioning or HVAC systems in India. Headquartered in Pune, the JV would begin supply of HVAC (heating, ventilation, and air conditioning) systems from 2014 to the automotive market.
Alstom bags contract worth ¤125 m from BHEL
Power gear maker Alstom on Wednesday said it has bagged a contract worth ¤125 million from BHEL for supply of components and services to the upcoming 1,000 MW thermal power plant of Neyveli Lignite. “Alstom has been awarded a contract worth close to ¤125 million (over R1,000 crore) by BHEL to supply components and services for 2x500 MW Neyveli new thermal power projects,” Alstom said.
GMR expects Maldives compensation by May
GMR Group expects to get the compensation for the wrongful termination of its contract to develop and operate Maldives’ Male airport by May next year, its chairman G M Rao said on Wednesday. “We hope to get the compensation by May next year. We are going in a systematically timely manner. It was a privatisation project studied by the World Bank. Our policy is whenever there is a transparent bid, we will participate,” he said.
Canon forays into photo printing business in India
Canon on Wednesday announced its foray into the commercial photo printing business in India by introducing the DreamLabo 5000 commercial inkjet printer equipment targeting the retail photo and album printing industry. Canon India executive V-P Alok Bharadwaj said, “India has a R3,000-crore photo printing industry with a lion’s share coming from wedding albums and travel vacation photos. We plan to start with R15 crore coming out of this new domain in 2014.”
Lupin launches generic version of anti-retroviral
Lupin said it launched a generic version of ViiV Healthcare’s anti-retroviral drug, Trizivir. The Mumbai-based company had received US Food and Drug Administration approval on December 10. It will enjoy a 180-day marketing exclusivity for the therapy as it was first-to-file for approval in the United States. The drug will be sold in the strengths of 300 mg, 150 mg and 300 mg.