MAIT welcomes exim policy
Manufacturers' Association for Information Technology (MAIT) has welcomed the Centre's exim policy for 1999-2000. According to the MAIT president Hemant Bharat Ram, the free trade zones initiative is a major step towards realisation of the S-BIT scheme, unanimously supported by all members of the National IT task force. The emphasis on free trade zones is significant step towards encouraging the manufacture of IT hardware in the zero duty regime expectedunder the WTO agreement by 2003.

Intentia's ERP software package
Intentia has launched the ERP software package developed in Java in Mumbai. Movex Version II will be offered in two different technologies, the Java-based Next Generation (NextGen) and traditional, This Generation (ThisGen). Both versions of Movex Version II are optimised for the IBM AS/400 platform. Businesses will be able to run Intentia's ERP solution on other 32 and 64 bit platforms including Windows NT and at a later stage, others will be certified.

Floatglass allots shares to Asahi
The board of directors of Floatglass India Ltd have approved the allotment of 35 lakh cumulative redeemable preference shares carrying a coupon of 10 per cent of Rs 100 each, to Asahi Glass Company Ltd of japan by conversion of soft loan advanced them by earlier.

EID Parry to acquire stake in CSCL
EID Parry (India) Ltd has informed the Bombay Stock Exchange of its decision to make a final offer along with SanthalaksmiInvestments Ltd, a group company, to acquire 11,30,650 fully paid equity shares of Cauvery Sugars and Chemicals representing 4.04 per cent of CSCL's equity capital at a price of Rs 10 per share. The company's shares are proposed to be delisted following the offer.

BIFR okays revival plan for XMTL
Board for Industrial and Financial Reconstruction (BIFR) has asked the Industrial Development Bank of India (IDBI) to seek proposals for change in management of sick company Xlo Machines Tools Ltd (XMTL). The board has directed IDBI to invite offers for takeover, leasing, amalgamation or merger of the company within six weeks.