Corporate Results of over 2500 companies Friday, October 22, 1999
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Aiwa denies move to snap ties with Baron Electronics 

Our Bureau  
Mumbai, Oct 21: Aiwa has clarified that it has not served any notice for termination of its tieup with Baron Electronics. The Financial Express had reported on Thursday, on the basis of a letter from Aiwa Gulf to Baron, that Aiwa will terminate its agreements with Baron from December 31.

Aiwa Co Japan's senior managing director Toshitatsu Iwai, however, has said that Aiwa Gulf FZE was neither authorised, nor did it prepare any such letter and, accordingly, the statements contained in the letter are not those of Aiwa.

"Our current contractual relations with Baron are on an exclusive basis until the year 2003. As at this time, Aiwa is pleased with the strong results and relationship with Baron and has no intention of terminating any agreements as reported," he said. Aiwa has no concerns regarding the quality of its products sold in India which are subject to its standard quality control procedures and supervisions by technical representatives from Japan.

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