Hyundai Motor India Ltd (HMIL) has started production of `Alpha' engines, transmission and other crucial parts for its mid-sized car LC, scheduled to be launched in the country next month. The comapny has also commenced the `P2' stage of its pilot production at the Chennai plant, a company release said in New Delhi on Friday.

German firm plans auto part JV

A leading german auto component manufacturer Freudenberg Dichtungs-Und Schwingungstechnik KG is planning to set up shop in India for producing its range of sealing equipments for automobiles. The company has already shortlisted an Indian partner for the venture and a final decision on the investments planned for the country would be taken by the end of this year, Freudenberg chairman Jorg Sost told newspersons in New Delhi on Thursday.

Aaifr confirms wind-up of TFL

The Appellate Authority for Industrial and Financial Reconstruction (AAFIR) has confirmed BIFR's winding-up order of TrimurteeFertilisers Ltd (TFL) as the company is too heavily indebted for revival on a long-term basis. Further, AAFIR recommended the BIFR to sell the operating plant of TFL, if necessary through an official liquidator, as a going concern.

VSNL to adopt ATM technology

Videsh Sanchar Nigam Ltd (VSNL) would soon adopt the asynchronous transmission mode (ATM) technology, which was faster than the present Internet system, VSNL deputy general manager (Coimbatore) GS Subbiah said on Friday. Unlike the present two-way system, switching and transmission would be on a single fabric in ATM, he said while inagurating an Internet facility at Avinashalingam University in Coimbatore on Friday.

Deluxe Corp to invest $25m

US multinational Deluxe Corporation, the banking solutions major, will pump in $25 million in India over a span of five years to meet the growing requirements of financial sectors, a top company official on Friday said. ``We will invest $25 million in the next five years to set up about 10software development centres and shared service centre besides developing E-payment solutions to meet the growing demand from the financial segment,'' IDLX (business unit of Deluxe) Technology Partners president and CEO Nikhil Sinha told reporters in New Delhi.

3Com launches networking products

Global networking major 3Com on Friday launched two of their new desktop connectivity products in India to maximise system and network performance considering the latest trends in the industry. The products are network interface card with PC management (WFM 2.0) and network management with Dynamic Access 2.0.