Gulf Oil, Bangla firm tie up
Gulf Oil Corporation and Oil Bangladesh have teamed up to set up a lube blending operation in Dhaka. The plant will function under a newly-formed company Gulf Oil Bangladesh Ltd. Gulf Oil will hold 51 per cent while Oil Bangladesh will have 49 per cent stake in the new company. The company will blend and exclusively market ‘Gulf’ branded lubricants in Bangladesh. It targets a 7.1 per cent market share in the first year of operations.
AirTel has introduced a location-based service – Around Me – for its post paid subscribers. The new service will facilitate round-the-clock information on various utilitarian and entertainment options available to the user within a 10-kmradius. The user has to pay a charge of Rs 2 for every request made.
Reebok has turned India into a major hub for sourcing apparels and footwear. Reebok’s exports to its headquarters in Massachusetts, USA already exceeds its domestic sales turnover at Rs 150 crore. Reebok officials said the company was scaling up its distribution arrangement with Bata. Reebok sales its products through 30 Bata outlets at present.
GSK Consumer Healthcare, the makers of Horlicks, is looking to grow its nutrition business by launching a new range of products including ready-to-consume powered drinks. It recently launched Horlicks, its flagship brand, in a new pack.
Century Plyboards is investing Rs 38 crore in setting up a laminates factory close to Calcutta. The plant will be fully operational by December 2004. Century registered a net profit of Rs 4.53 crore on an income of Rs 121 crore in 2002-03.