INDIA TECHS IN JV WITH SPAIN'S AUSA

Article Abstract:

India Techs of Kochi and AUSA of Spain have tied up. The joint venture (JV) is called INDAUSA. It will manufacture shovel loaders. Shovel loaders are multi-purpose vehicles used in the construction and other industries. INDAUSA will be setting up its plant in Chennai. It will have a capital of less than Rs10 crore. Initially, INDAUSA will invest on the assembly line as it will be importing most of the components. It plans to complete indigenisation by the third or fourth year of operations. It hopes to sell about 10,000 multi-purpose vehicles in India. It will concentrate on southern India. INDAUSA is expected to make a turnover of Rs300 crore. (ag/kvr)

Spain, India, Construction Machinery Manufacturing, Tractor Shovel Loaders, Tractor loaders, India Techs, AUSA, INDAUSA

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CARADON TAKES 27% STAKE IN INDIAN UNIT

Article Abstract:

Caradon Plc of the UK has acquired a 27 percent holding in MK Electric (I) and raised its total stake to 87 percent. MK Electric is a manufacturer of upgraded and standard low voltage electrical installation accessories. The company showed a growth of over 30 percent during 1998 despite the recessionary trends in the real estate sector. (khr)

Comment:

Caradon Plc of the UK has acquired a 27 percent holding in MK Electric (I) and raised its total stake to 87 percent.

United Kingdom, Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Asset sales & divestitures, Facilities & equipment, MK Electric Group PLC, Caradon PLC

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