Escorts Ltd is looking for joint ventures in Africa where it has set a target of selling about 2000 tractors this year. ?We are looking into arrangements where the local partner puts in the majority of investment while we provide product and technical support system,? Rajiv Kumar, head of exports division, said. The company is already present in nine countries of the African continent through exports of completely built units. The company had also sold about 400 units in Senegal.
The Haldia Dock Complex has handled 42.22 million tonnes of cargo during 2005-06, registering a growth of 15.42 per cent over that handled in the previous year. The handling of rail-borne cargo has also touched 16.01 million tonnes, growing at a rate of 12.7 per cent during 2005-06.
Karuturi Networks Ltd is looking to acquire a spanish flower production company for about $3 million, aiming at expanding its reach in the global markets. The acquisition, to be completed by the first quarter of the new fiscal, would be funded through internal accruals.
Sony Ericsson has launched K608I, a dual-camera 3G mobile phone. The dual front camera/phone design makes the handset function as a phone when it is vertical and a 1.3 mega pixel camera when it is horizontal. The product is priced at Rs 10,295.
Nitco Tiles Ltd has received the licence order to import 12816 tonnes of marble for 2006-07. The notification was received from the director-general of foreign trade, ministry of commerce. The imported marbles are in blocks that are processed and sold locally.
The National Aluminium Company (Nalco) has fixed a sales target at approximately Rs 5,000 crore and a gross margin of over Rs 2,200 crore for 2006-07. Nalco CMD C.R. Pradhan has signed an MoU with Union mines secretary A.K.D. Yadav to this effect.
Arexera Information Technologies GmbH, the wholly-owned subsidiary of Aftek Infosys, will set up a research and development facility at Pune. The R&D centre will be housed in Aftek?s upcoming premises at Hinjewadi.
Mahindra & Mahindra will set up a blanking line plant in Nashik with German technology to produce steel coils and sheets for its automotive and components divisions.
Gitanjali Gems has signed a joint venture agreement with Sanghavi Exports under which it will become a 50-50 partner in spectrum jewellery.
