Genus Overseas Electronics will form a joint venture with Mobix, a Brazilian communication technology firm, and will invest $15 million in it. Of this, $9 million will be raised as loan from a Brazilian bank at zero interest and the rest will be raised through equity from both the companies, Genus informed the Bombay Stock Exchange. It has been executing pilot projects in Brazil since the past two years.
An eight-member trade delegation from Northern Ireland will be visiting the city from September 20-23. The team will be looking for business opportunities in Bengal and negotiate possible joint ventures with local partners. The delegation has been organised by Invest Northern Ireland, the region’s economic development agency.
Praj Industries Ltd has acquired US-based CJ Schneider Engineering Co Inc for Rs 22.5 crore. The US firm provides engineering services to the biofuel industry including ethanol plants.
Rama Newsprint’s equity shares will be re-listed on Bombay Stock Exchange from September 20. The company has issued more than 5.8 crore equity shares of Rs 10 each pursuant to the reduction in capital according to the scheme of arrangement of the company.
Eicher Motors has entered into a strategic partnership with Chennai-based e-Logistics Ltd, a provider of vehicle tracking systems. The tie-up will enable dealers of Eicher Motors to offer vehicle tracking systems manufactured by e-Logistics as an after-merket fitment on Eicher vehicles.
MSTC Ltd has registered a net profit after tax of Rs 54.75 crore and sales of Rs 7,700 crore for 2005-06. The company has declared a 498 per cent dividend.
Aircel has launched a bundled offer, under which the service provider will give Siemens handsets with lifetime validity for Rs 1,449. The offer also involves full talktime on subsequent recharges.
Satyam Computer Services and The University of Melbourne (MU) have signed a memorandum of understanding (MoU), under which 10 students of the university will be interns at Satyam each year.
Philips has launched GoGear portable audio MP3 players. The range includes Philips GoGear SA1100 and SA1110 models. The former comes at Rs 3,999 and the latter at Rs 4,999.
Levis has launched Levis Diva jeans for women in Calcutta. The jeans are available in the range of Rs 1,500 to Rs 2,999.
