Michelin unit

Paris, June 20: French tyre giant Michelin plans to open a factory in India, the company’s chief executive Michel Rollier said today. “We hope the factory will open within three years,” Rollier said. Michelin may invest more than one billion euros ($1.39 billion) over 10 years in a factory in the Asian country, but Rollier refused to confirm the figure. Michelin plans to cut nearly 1,100 jobs in France.

ABG Shipyard

Mumbai, June 20: Union minister of state for shipping Mukul Roy has sought comments from the shipping secretary on the Rs 700-crore contract given to ABG Infralogistics by the Calcutta port. ABG Infralogistics is a subsidiary of ABG Shipyard that has reported an after-tax profit of Rs 51.96 crore for the quarter ended March 31, 2009 on net sales of Rs 370.86 crore.

MasterCard

New York, June 20: Global payment firm MasterCard has appointed Citigroup’s Ajay Banga as president and chief operating officer of the company. He is currently Citigroup’s chief executive officer (Asia Pacific) and will join MasterCard on August 31.