Targeting the high level of intellectual workforce in the country, the US-based Ford Motor Company is working towards making India the accounting hub for Ford's global operations. The company has already set up a Ford business service centre in Chennai, which would provide back office accounting services for Ford establishments in the Asia Pacific region, company sources told in New Delhi.

RPG financial services chief

The RPG group has placed its financial services business group under Hari L Mundra, the group's chief financial officer. Ceat Financial Services, the flagship of the group in the business, has a new president in Ramesh Chandak, who was earlier president of group company RPG-Raychem. The present president of Ceat Financial, SA Krishnan, will continue with the group in the capacity of an advisor.

Nagarjuna to hive off cement wing

The board of directors of Nagarjuna Construction Company has decided to hive off cement division of thecompany under a scheme of arrangement to Priyadarshini Cement Ltd. The proposed scheme would result in a net inflow of Rs 30.76 crore after meeting all the liabilities pertaining to the cement division.

Goodlass Nerolac unit closure

Goodlass Nerolac Paints Ltd has informed the BSE that it had received permission from the Labour Commissioner, Mumbai to close down the undertaking at Kavesar. The company has decided to discontinue the pigment business with effect from April 1, 1999.