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Metal Box to shift office to New Delhi
The ailing company, Metal Box India Ltd, received a bit of good news yesterday. At an extraordinary general meeting in New Delhi, the company's shareholders approved a proposal seeking to shift its registered office from Calcutta to New Delhi. The company further added that it planned to sell its second unit in Calcutta and its research division to generate funds for its revival scheme.
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Hoechst Marion plans to bring entire anti-epileptic drugs range
The anti-epileptic market is headed for more tremors on the competition front. After Knoll Pharma's recent acquisition of Epilex from Reckitt & Colman, Hoechst Marion Roussel plans to bring in its entire range of anti-epileptic drugs as part of a broader, long-term strategy. The German multinational recently launched a versatile add-on anti-epileptic brand, Frisium (Clobazam) as a prelude to its long-term plans.
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HLL to give P&G a run for its money
The merger and acquisition (M&A) moves by fast-moving consumer goods (FMCG) major Hindustan Lever Ltd (HLL) are likely to dwarf the company's closest competitor, Procter & Gamble, in terms of its topline growth. P&G's turnover growth has been in the range of 35-40% between 1991 and 1996. HLL has, in comparison, that a merger with its group concern will double its turnover.
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Alfa Laval mulls sale of 49% stake in ABB Alfa Stal
Alfa Laval India Ltd (ALIL) is considering the sale of its 49% stake in ABB Alfa Stal Refrigeration Ltd. This comes in the wake of the worldwide takeover of ABB Stal by the Danish group Sabro. ALIL has already initiated talks with Sabro and a final decision on the issue is likely before the end of the current fiscal.
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PMO's entry adds fuel to tussle over AAI chief's appointment
The tussle between civil aviation secretary MK Kaw and ministers CM Ibrahim and Jayanthi Natarajan over the appointment of the new chairman of Airports Authority of India (AAI) has taken a new twist. The Prime Minister's Office (PMO) has now jumped into the fray, supporting PMO Kaw's selection of DV Gupta for the post. Gupta's name was earlier rejected by both the ministers.
Boeing hopes to weather Asia storm
Global aircraft major, Boeing Co on Saturday, claimed that the recent Asian financial crisis might delay airplane deliveries over the next three years. Boeing, however, added that the crisis would have no long-term impact on it's business. Boeing recently signed a joint venture agreement with Hexcel Corp, Malaysia Helicopter Services Bhd and Sime Darby Bhd, a move which it claimed was reflective of its commitment to Asia.
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