Hindustan Sanitaryware and Industries Ltd (HSIL) has entered into a strategic alliance with the $1.5 billion Sanitec Group of Finland, a leading European bathroom solutions provider. Under the agreement, Hindustan Sanitaryware will exclusively market premium product offerings from Sanitec’s flagship brand Keramag using its countrywide sales and distribution network. Keramag is expected to be available in select cities at all leading Hindware outlets by January. The Keramag range is priced at Rs 23,000 onwards.
The New Delhi chapter of The Indus Entrepreneurs (TiE) is organising TiECon India 2003 on December 18-19 to address the challenging issues confronting entrepreneurs at present. Experts from the IT, telecommunications, media, retail, tourism and hospitality sectors will participate in the event.
TNS MODE and NFO MBL, the TNS operations in the country, will be integrated to form the strongest customised research agency in India. The combined operations, called TNS India Pvt Ltd, will be under the regional director for south and north Asia.
NCR Corporation has launched NCR EasyPoint 57i (ASAN), an automated teller machine that will enable domestic banks to give many more account holders access to ATMs without incurring huge capital or operational costs.
Citigroup has completed the country’s first floating rate securitisation issuance, which was fully subscribed to by seven mutual fund investors. The transaction, which closed in November, involved securitisation of receivables aggregating to Rs 281 crore from fixed rate auto loans originated by Citibank and Citicorp Finance (India) Ltd. The issuance, with an embedded derivative, offers a floating coupon to investors linked to Mumbai Inter Bank Offer Rate.
Tata Consultancy Services (TCS), the software and services consulting firm, has incorporated its new subsidiary, Tata Consultancy Services Asia Pacific Pte Ltd, in Singapore. It will function as the headquarters for the Asia Pacific region. The company has invested over $6 million in this subsidiary.
Rourkela Steel Plant produced 5,800 tonnes of hot metal on December 9, which is the highest production of hot metal for any single day since the inception of the steel plant.
The board of directors of Bharat Forge Limited has approved the company’s long term fund raising programme of up to Rs 350 crore. The funds so raised will be used for substantial expansion of the company’s forging and machining capacity at Mundhwa in Pune to meet its business requirements.
