The HCL group will divest its stake in the medical-imaging company Pickers India Ltd in favour of the US-based partner Pickers Inc. The decision was confirmed by a Pickers' India Pvt Ltd release in the capital on Friday.

"Pickers Inc will soon approach government for necessary approvals to buy out HCL's stake," it said. HCL's decision to divest its stake in this 50:50 joint venture comes in the wake of its strategy to concentrate on the information technology sector. Chief executive officer Indian operations George Vellathottam will continue to head business activities here, Pickers said.

Ircon declares dividend:

The state-owned Ircon International on Friday declared an all time high dividend of 175 per cent for 1997-98. This works out to over 20 per cent of the company's post-tax profits amounting to Rs 8.66 crore against the paid up share capital of Rs 4.95 crore, Ircon chairman VK Agnihotri said at the company's 22nd annual general meetingin the capital. The company recorded a turnover of Rs 459.4 crore and a profit before tax of Rs 50.3 crore during 1997-98.

JP Foundries certification:

The Belagum-based JP Foundries has received the ISO 9002 certification from TUV Bayern, Mumbai. The company produces graded, small batch, quality iron castings. It produces castings for compressors, diesel engines, printing machines, machine tools valves in the weight range of 100g to 250 kgs by sand and shell sand process.

Map Commercial fair:

The Bangalore based Map Commercial Creatives Ltd is organising a mega consumer fair NJOY 98' from December 4 to December 13 at Vijayanagar, Bangalore. NJOY 98' has been planned to be the best showcase for displaying household, electronic goods, kitchenware, electrical appliances, cosmetics, furniture, garments, textiles, automobiles, a release said.

Coromandal Food product:

The Bangalore-based Coromandal Food Products has introduced frozen shelled green peas called Green Gold inpolythene bags. The company, in a release said the peas are irrigated with fresh water in dustfree atmosphere with only organic manure and processed with most advanced freezing equipment. As part of its future plans it plans to launch frozen mixed vegetables, cauliflowers, fruits and ready to fry and eat products soon.

Quantum announcement:

Computer vendor Quantum and a host of other companies in the system and storage industry have together announced the availability of Ultra 160ml/m SCSI. The new standard has significant improvements in manageability, performance and cost of ownership. Ultra160/m SCSI will incorporate the core features of Ultra3 SCSI-double transition clocking, cyclical redundancy checking, and domain validation, a company release said.

APSFC to sanction Rs 350 crore loans to set up industries:

The Andhra Pradesh State Finance Corporation (APSFC) will sanction loans to the extent of Rs 350 crore this year for setting up industries in the state, according to generalmanager PVB Lakshminath. The corporation had provided Rs 140 crore aid last year, extended through 22 major and seven minor schemes, he said. This year, Rs 51 crore has been sanctioned, of which Rs 40 crore has been disbursed so far, he added.

Medical transcription on the way in:

Medical transcription, a $6-billion industry in the US, is set to make an impact in the country with a few American firms setting up support bases in some cities. One such centre run by Comat Technologies, in collaboration with Health Scribe of the US, has been operating in Bangalore since 1993. The two other centres are in Chennai and Delhi. A 100 per cent export oriented project is also to be set up up in Mysore with an investment of Rs 5 crore.

Godrej Foods Mysore plant:

Godrej Foods Ltd has set up a processed foods plant at Mysore to meet the growing demand of its Jumpin brand in the south. The new plant is in addition to the company's existing facility at Mandideep in Bhopal. Godrej has made investemntsto the tune of Rs 20 crore over the last two years to upgrade the Jumpin range, company deputy general manager Debashis Pati said. "Although we are manufacturing only our Jumpin range of tetrapacked cold drinks at Mysore, we can utilise this plant to manufacture other processed food products as well."