The Gujarat Cooperative Milk Marketing Federation Ltd is aiming at an annual turnover of Rs 10,000 crore in four years time, according to its chairman V Kurien.

The turnover for the current financial year is likely to be Rs 2,500 crore. He indicated that most of the growth in sales would come from milk and milk products. Kurien was speaking at a press conference organised by the Advertising Club Calcutta. He was inducted into the Club's Hall of Fame at the annual awards ceremony.

Cadila Healthcare unveils Meloxicam

Cadila Healthcare Ltd (CHL), the flagship company of Zydus Group, has introduced `Meloxicam' in the country under the brand name `Mel-OD', for the treatment of degenerative diseases like osteoarthritis and rheumatoid arthritis. Meloxicam is the first of the Cox-2 inhibitors developed in early 1990's and targetted specifically at two cyclo-oxygenase enzymes which cause pain and inflammation.

Care enters 50thyear

Cooperative for Assistance and Relief Everywhere (Care), a global NGO, is entering the 50th year of its operations in India on Saturday. Tom Alcedo, country director to Care-India, told reporters in New Delhi that one of the larg NGO confederations in the world started its work in India on March 6, 1950. Department of women and child development under human resource development ministry is the nodal department for Care-India, he said.

Care-India's area of operations include integrated nutrition and health project, population and reproductive health, primary education for girls and tribal development.

HAL sets up R&D centre

The Hindustan Aeronautics Limited (HAL), India's premier aerospace company is setting up a gas turbine R&D centre to design improvements on Russian engines at koraput in Orissa. HAL chairman CG Krishnadas Nair, the defence undertaking is also setting up a materials and process R&D centre to carry out indigenisation of materials, castings and forgings and developmentof new materials and manufacturing process.

AG Gadgil passes away

Vithal Govind Gadgil, a pioneer of Indian aviation system passed away on Thursday. He was 88. Gadgil was part of the first batch of Air India employees. He joined the Tata Airline in 1932, a few months before the airline made its first commercial flight in September. He later become the president of Aeronauticl Society of India.

Toyota to trim hiring

Toyota Motor Corp said on Friday it would hire 700 people next April, down from the 792 who are due to join the company next month. Japan's biggest carmaker said it would recruit 345 university graduates next April, 46 fewer than this year. It will hire 300 graduates from technical junior and vocational colleges, 11 fewer than this year. Some 30 high school graduates will be hired, down from 46,and 25 experienced persons will be sought, down from 44.

GTS, Esprit begin integration

Global TeleSystems Group Inc and Esprit Telecom Group PLC said on Friday that thecompanies had begun their integration after GTS shareholders approved the Global TeleSystem's purchase of Esprit. The completion puts the combined company on track for meeting its goal of becoming Europe's premier provider of a wide range of end-user and carrier communications services, the company said in a statement.

Degussa retains Norddeutsche stake

Germany's Degussa AG will retain its 10 percent stake in copper refiner Norddeutsche Affinerie AG (NA), German newspaper Handelsblatt reported on Friday. Canada's Inmet Mining Corp and Australia's MIM said on Wednesday they would surrender their remaining 10 per cent stakes in Norddeutsche to an unnamed German investor. MIM and Inmet said that the investor had offered to purchase the stakes for 10.10 euros per share and they had decided to dispose of their remaining Norddeutsche shares. According to the Handelsblatt the German investor will be made known later on Friday.

Creative's new product sparks hopes

Multimedia products makerCreative Technology Ltd's plans to enter the portable digital audio market should boost its business in the long term, equities analysts said on Friday. Creative said on Thursday it would demonstrate new technology in New York at the weekend which would allow customers to download sound from the Internet onto a portable audio player. Some analysts have been concerned that Creative could beheaded for a flat third quarter in 1998/99 (July-June) as its core audio business has faltered on increased competition and a lack of new products.