Marico to market Top Ramen for Indo Nissin: Indo Nissin Foods Ltd, a subsidiary of the $2-billion Japanese food major Nissin Food Products Co Ltd, has formed an alliance with Marico Industries Ltd. Under the arrangement, Marico which already has in its stable brands such as Parachute, Saffola, Sweekar, Revive, Sil and Hair Care will undertake the marketing of Top Ramen smoodles on behalf of Indo Nissin.

IPCL scouts for investments in Middle East: The Indian Petrochemical Corporation Ltd (IPCL) is looking for investments in the Middle East in a bid to expand its petrochemical operationsand to ensure adequate supply of feedstock facilities in India. "We are interested in establishing a green-field plant in the Middle East to ensure adequate supply of feedstock for our petrochemical complexes in India," IPCL chairman and managing director KG Ramanathan said.

Thermax Fuji starts manufacturing smart pressure transmitters: Thermax Fuji Electric Ltd (TFEL) has started the production of smart pressure transmitters thus becoming the first company in the country to manufacture both, the cell and the transmitter indigenously. Thermax Fuji, the 51:49 joint venture between Thermax Ltd and Fuji Electric Co Ltd, was set up in 1996 to manufacture, design, engineer and integrate process control systems and new generation transmitters and controllers. The joint venture achieved a turnover of Rs 16 crore in 1997-98, of which Rs 1 crore was from the export of services to neighbouring countries.

Ispat to fund Bhadravati project via Mauritius company: The Ispat group will infuse Rs 1000 croreas equity through a holding company in Mauritius for financing the 1,072 mw coal-fired Bhadrawati power project. The Mittals, promoters of the Ispat group, have already received the go-ahead from the Foreign Investment Promotion Board (FIPB) in this regard.

Pagelink, Holiday Breaks tie up for holiday scheme: Pagelink, the paging services provider, has tied up with the internationally known Holiday Breaks International to provide free holiday schemes to its subscribers. Pagelink chairman and managing director Deepak Malhotra said the company's subscribers will get free room for two persons for a maximum of three nights and four days in select and most sought after holiday resorts and hotels at 37 tourist destinations. The scheme will remain valid for one year only.

Bajaj Tempo to introduce new-generation LCVs: Bajaj Tempo will introduce a new generation family of light commercial vehicles (LCVs) in the next few months and phase out the popular "Matador" model over a period of time, a topcompany official said. The new generation family of LCVs with modern engines and transmission is developed indigenously by the company, Bajaj Tempo chairman and managing director Abhay Firodia said. The new project, with some overlapping features with Matador, will have a five-cylinder three-litre engine, Firodia said.

ICICI sells shares: ICICI has sold eight lakh shares representing 7.81 per cent of the paid-up equity capital of KG Khosla Compressors Ltd at Rs 20.90 per share through a negotiated sale to the new promoters of the company on May 18.

Orient Press extends fiscal: Orient Press Ltd has extended its financial year by six months. The current fiscal will thus be of 18 months and the final accounts will be drawn from April 1, 1997 to September 30, 1998.

Gabriel India sales: Gabriel India has posted sales of Rs 205 crore for the year ended, March 21, 1998, against Rs 207.50 crore the previous year. The board has recommended a dividend of 25 per cent on a higher equity capitalof Rs 7.13 crore as a result of the conversion of the partly-convertible debentures issued in November 1996. The company's exports stood at Rs 19.7 crore, versus Rs 14.46 crore the previous year.

Qantas Airways to expand fleet: Qantas Airways has announced plans to develop its existing fleet of aircraft. Qantas has placed confirmed orders for three Boeing 747-400s and two 767-300s aircraft, and is negotiating with other airlines to acquire three more 747-400s and another new 767-300 aircraft.

Sybase ties up with two institutes: Sybase India has announced strategic alliances with two leading educational institutions in the country. "The company has tied up with the National Institute of Engineering, Mysore, and Sant Longowal Institute of Engineering Technology, Punjab, to offer and support the Sybase education kit," said manager (education services), Padmaja Velugula.