ACC SET TO DILUTE STAKE IN TWO ASSOCIATE FIRMS

Article Abstract:

Associated Cement Companies Ltd (ACC) has decided to divest, either completely or partly, its stake in associate companies Floatglass and Bridgestone ACC. This is part of a restructuring process undertaken by the company to improve its asset utilisation. ACC has invested Rs23 crore and holds a 26 percent stake in Floatglass while it has invested Rs26 crore and holds a 19 percent stake in Bridgestone ACC. Asahi Glass Company of Japan holds a 49 percent stake in Floatglass while the public has 25 percent. Bridgestone Corporation of Japan has a 64 percent stake in Bridgestone ACC while 10 percent is held by Mitsui and 7 percent by Telco. (khr)

Comment:

Associated Cement decides to divest, either completely or partly, its stake in company & Floatglass

Flat Glass Manufacturing, Float Glass, Associated Cement Companies Ltd., Bridgestone ACC India Ltd., Floatglass

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MRF SET TO BAIL OUT DUNLOP ON BENGAL GOVT's REQUEST

Article Abstract:

MRF Ltd proposes to acquire the ailing Dunlop India Ltd (DIL). DIL is under the purview of the Board for Industrial and Financial Reconstruction. It has suspended operations at its Chennai and Calcutta units. MRF's decision follows the request of the West Bengal government. MRF plans to send a team to study the production facilities of Dunlop, its machinery, products, assets, labour force and financial implications before reaching a final decision. MRF is mainly interested in certain special types of tyres manufactured by DIL like industrial tyres, aero tyres and conveyor belts. (gsh)

Comment:

Proposes to acquire ailing Dunlop India, which is under purview of Board for Industrial & Financial Reconstruction

Flat Belts & Belting, Belts (Machinery), MRF Ltd., Dunlop India Ltd.

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CHHABRIA'S HOSE PUMP PROJECT GOES TO FALCON

Article Abstract:

Falcon Tyres Ltd (FTL) is likely to acquire the Rs30 crore hose pipe plant from the Jumbo Group of Mr MR Chhabria. FTL will set up a new hose pump plant adjacent to its tyre unit in Mysore. It is negotiating with financial institutions to part-finance the project. FTL hopes to achieve an income of Rs30 crore in the replacement tyre segment during 1998-99. It hopes to sell around 3.5 lakh tyres per month in this segment. Its list of OEM customers include Bajaj Auto, Hero Honda Motors and Escorts. (gs)

Comment:

Is likely to acquire the Rs30 crore hose pipe plant from the Jumbo Group of Mr MR Chhabria

Facilities & equipment, Rubber & Plastic Belting & Hose, Rubber industry, Jumbo Group, Falcon Tyres Ltd.

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