New Nike unit planned

Nike plans to set up its subsidiary in India and invest heavily in the country even as it continues to market its products through the Sierra group, which would remain an exclusive national trade channel customer for Nike, a Sierra group statement said. Sports Station India, retailing arm of the Sierra group, will continue as the preferred key retailer for Nike.

Patni centre

Patni Computer Systems Ltd, a global IT services provider, is planning to set up a development centre in Bangalore, which will have a strength of around 1,100 people. “We plan to increase our presence in the south, as our present operations are concentrated in the western and northern regions,” a Patni release said.

HEG orders

HEG Ltd, a graphite electrodes maker, has bagged a Rs 70-crore order from National Iranian Steel Company (Nisco), the largest steel manufacturer of Iran. According to the contract, HEG would provide technical assistance and know-how for establishing a graphite electrode manufacturing plant for Nisco in Iran, a company release said.

Oil supply

Supply from the Mourigram oil terminal of Indian Oil was halted on Tuesday due to a day-long strike by transporters against the company’s decision to instal Abloy Lock in oil tankers to stop pilferage. About 4000 kilolitres of petroleum products are supplied daily from this terminal to cater to Calcutta and its suburbs. If the strike continued, it would give rise to a severe crisis in the city, a senior IOC official said.

MRF launch

MRF, a leading tyre company, has launched Durothane, a speciality coating for metal, wood and plastic surfaces. Durothane is resistant to UV radiation, corrosion and abrasion. It can be applied on grills, gates, windows, doors and furniture.

Nasdaq

Nasdaq has entered into a definitive agreement to acquire Brut LLC, the owner and operator of Brut ECN, for a total consideration of $190 million in cash from SunGard Data Systems Inc.

OSS Tech

OSS Technologies Pvt Ltd, a Bangalore-based information technology infrastructure consultancy, has formed a strategic partnership with Texas Digital System, an industry leader in visual messaging, to launch their products in the domestic market.

Satyam meet

Satyam Computer Services Ltd will host 'Analyst Meet 2004' on June 3 at Satyam technology centre in Hyderabad to communicate with analysts on its "strategic direction". The theme of this year's meet would be 'Towards Quadrant 1 Leadership', a Satyam release said.

Tanishq offer

Tanishq has unveiled a wedding jewellery collection for ‘summer 2004’, comprising lightweight gold, kundans,beads and stones.