Hoechst AG to split into two listed companies
German chemicals group Hoechst AG said it was splitting into two listed companies, one focusing on life sciences and one on its industrial chemicals activities. Hoechst said in a statement the two companies would be called Hoechst AG and Celanese AG, with Hoechst concentrating on life sciences and Celanese on industrial chemicals.

Mysore Cements Gulbarga project put on backburner
Mysore Cements, the SK Birla group-controlled cement company, hit by mounting losses and reluctance on the part of financial institutions to fund greenfield cement ventures, has put its Rs 600-crore Gulbarga project in Karnataka on the backburner.

Blue Star recast hits roadblocks as institutions question unit valuation
Financial institutions have imposed a rider on the Ashok M Advani-controlled Blue Star's restructuring process by rejecting the method of valuation adopted in its information technology division hive-off into a separate company, Blue Star Infotech.

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