ABB INDIA OPERATIONS TO BE PUT IN REVAMP MODE

Article Abstract:

ABB, an infrastructural engineering group, has decided to restructure its Indian operations, according to the revamp announced by the company worldwide. Its industrial and building systems division is to be sub-divided into three new divisions - automation division, oil, gas and petrochemicals division and products and contracting division. The company has already sub- divided its power generation division to cater to steam power plants, industrial and captive power plants and combined cycle plants. The heads of the three primary business segments - power generation, power transmission and distribution and industrial and building systems are to directly report to the heads of these divisions stationed at the company's headquarters at Zurich in Switzerland. (khr)

Comment:

Decides to restructure its Indian operations, according to the revamp announced by the company worldwide, India

Switzerland, Electric Industrial Equipment, Electrical Equipment Manufacturing, Parent-to-subsidiary activities, Industrial equipment, Electric equipment, Asea Brown Boveri AB

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MOULINEX COMES TO INDIA

Article Abstract:

Groupe Moulinex of France, the world's largest domestic appliances company, has tied-up with Gravs Appliances of Delhi to manufacture and distribute its products in India. Moulinex will initially not take an equity stake in the venture and Gravs Appliances will be solely responsible for producing and marketing the products. Moulinex may go in for an equity stake in 2000 AD. The agreement between the two companies envisages the launch of 18 products in the next 24 months with Gravs Appliances paying a fixed royalty on all products manufactured by it. The products to be launched include food processor, room cooler, microwave oven and radiant heater. (khr)

Comment:

Groupe Moulinex of France, the world's largest domestic appliances company, has tied-up with Gravs Appliances of Delhi to manufacture and distribute its products in India.

Strategic alliances, Moulinex S.A., Gravs Appliances, Gropue Moulinex

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WHIRLPOOL TO REVAMP EQUITY;GROUP's STAKE TO RISE TO 82.3%

Article Abstract:

The Whirlpool group's holding in Whirlpool of India Limited (WIL), the manufacturer of consumer goods, will be increased to 82.33 percent. The 100 percent subsidiary of Whirlpool Corporation of the US, Whirlpool Financial Mauritius Limited (WFML) will acquire around 38.15 percent stake in WIL. Presently, the two shareholders of WIL are Whirlpool Corporation and Whirlpool Mauritius Limited (WML). The stake of Whirlpool Corporation in WIL will decrease from 15 percent to 9.28 percent, while WML's stake will be reduced from 56.24 percent to 34.90 percent to facilitate the acquisition of stake by WFML. (gs)

Comment:

Will acquire around 38.15% stake in Whirlpool of India for undisclosed amount

Asset sales & divestitures, Mauritius, Whirlpool of India Ltd., Whirlpool Financial Mauritius Ltd.

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