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Corporate Briefs

LG to invest $18 m

LG Electronics plans to invest $18 million to set up a compressor plant at greater Noida with an installed capacity of 1.5 million units. The company will manufacture reciprocating compressors in this plant, which comprises motor winding, assembly line, oil charging, vacuumisation, paints shop and machine shop units. The new facility will manufacture three different models of CFC-free compressors in the ‘MA’ series.

Union Bank

Union Bank of India (UBI) and Escorts have tied up to offer a concessional financing scheme to farmers for buying tractors and other farm equipment. The special scheme called Escorts UBI Krishi Yojna offers a maximum of 90 per cent financing facility at an interest rate of 10 per cent up to Rs 2 lakh loans and 11 per cent for Rs 2-5 lakh loans maturing in seven to nine years.

IBM India

IBM India has launched a portfolio of Express programs designed and priced specifically for small and medium-sized business customers. The portfolio will consist of new hardware, software, services and financing solutions for these businesses.

Cordys launch

Cordys Asia, the Asian sales and marketing arm of the Netherlands-based Cordys Systems B. V. has launched quality manager, a packaged software solution for product quality management in manufacturing. It will help in inspection of raw materials, R&D, production and handling post-sales customer complaints.

Dialcom foray

Dialcom International Group of Spain will set up its Asia-Pacific headquarters in Bangalore. Dialcom, a world leader in the development of real time and collaborative multi-conference online platforms and web contact centres, has launched Dialcom Webconference in India, a business solution for call centres and BPO firms.

HCL InfiNet

HCL InfiNet, a 100 per cent subsidiary of HCL Infosystems, has tied up with National Insurance Company to launch HCL Safeguard, a free insurance scheme for all Nokia GSM handsets purchased from October 25, 2003 onwards. The offer will cover Nokia handsets in the first year against theft and provide an extended warranty for the second year. The scheme also covers a public liability up to Rs 10,000.

Ontrack goods

Ontrack Systems has launched two new products — Secure-T and SMS Xpez — to help in making secure tender transactions over the Net. The products will facilitate creation of bid documents with digital signature of tender issuing authority, unique barcode and watermark. The bid documents are in PDF format ad not editable and stored in secured relational database for future use.

Ritu Beri stores

Ritu Beri, a leading fashion designer, has launched her signature prêt line. The collection will be retailed at a chain of Ritu Beri Prêt stores, 100 of which will be opened by August 2004. In the second phase, the brand plans to go global.


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