In a bid to expand its global reach, information technology education and software major NIIT will soon launch a training centre in Kenya to take the company's education services to 20 countries. "The centre, to be opened on Friday will be on a franchisee basis and NIIT will offer all assistance in the functioning by the existing global infrastructure," a top company executive said. At present, the company has its base in about 19 countries, including India and Malaysia.

HMT arm posts Rs 42.25cr turnover

HMT Bearings Ltd, Hyderabad, a subsidiary of HMT Ltd and a miniratna company, has achieved a sales turnover of Rs 42.25 crore for the fiscal 1998-99. The company made a net profit of Rs 260 lakh during the year, an HMT release said. The company has announced a 15 per cent interim dividend for its shareholders for the year 1998-99, the release said.

Stewarts & Lloyds net up

Stewarts & Lloyds of India Ltd, a subsidiary of Tata Iron & Steel Co, closed the1998-99 fiscal with a 21 per cent increase in both turnover and net profit. According to unaudited results of the company, turnover went up from Rs 35.62 crore posted in the previous year to Rs 43.27 crore. Profit before tax went up to Rs 1.56 crore from the Rs 1.31 crore achieved in 1996-97. The company posted a profit after tax of Rs 1.08 crore against the previous fiscal's Rs 90 lakh.

Clariant board meet on May 25

The board of Clariant India will meet on May 25 to consider the audited annual accounts for the financial year ended March 31, 1999, the issue of bonus and to recommend dividend, if any.

Tata Lucent bags ISO 14001

Tata Lucent Technologies has received the award of ISO 14001 certification from STQC directorate for its switching systems and power systems manufacturing plants and also for the training centre located in Bangalore. Both the switching and power equipment factories got ISO certified after passing through stringent audits on effective practice and strictadherence to environmental protection and management guidelines.

Nirma soda ash project

Soaps and detergents major Nirma Ltd has achieved financial closure for two projects with its Rs 100-crore debt issue, which opened on Tuesday, getting oversubscribed. The company, which had the green shoe option for Rs 50 crore, has decided to utilise the option taking the total debt raised to Rs 150 crore, the company said in a statement here. Nirma issued 18-month debentures to part finance its backward integration projects to manufacture soda ash and n-paraffin, it added.

Xavier Institute's diploma programme

Xavier Institute of Management and Entrepreneurship (XIME) Bangalore will launch its two-year full-time diploma programme on managing family business in August. The programme designed by experts will prepare and train students with HSC or equivalent qualification to become skilled and value driven businessmen of their own business. The programme will offer intensive practical training andexposure to real life business situations.

Praxair supply contract

Praxair India has received a supply contract from the Kochi-based sea food exporter, Arabian Sea Food Private Ltd for an Individual Quick Freezing Carbon dioxide freezer. Apart from the freezer, Praxair would also supply carbon dioxide to Arabian Food for refrigeration, product storage and handling applications. Praxair's equipment would be the first carbon cryogenic freezer to be used in India.

RPG Life Sciences

RPG Life Sciences president and CEO, KK Sharma, has recently been conferred a Ph D for his thesis in the area of welfare economics. The thesis titled `Socio Economic Perspectives of Medical Insurance in India' is an exploratory and survey-based research into social utility enhancing characteristics of medical insurance. Sharma, a chemical engineer from IIT, Kanpur, has also done his advanced management programme from the Harvard University.