FOREIGN TIE-UP NO PANACEA, FIND TWO INDIAN COMPANIES

Article Abstract:

Polar Marmo (PM) and Kedia Agglomerates (KA) had tied up with Breton SRL of Italy for technical know-how for manufacture of white cement bonded agglomerated marble slabs and resin bonded agglomerated granite slabs in India in the early 1990s. PM had set up a unit at a cost of Rs15 crore at RIICO Industrial Area in Rajasthan. The company experienced break-downs from the start. The technology provided was not suitable for the Indian raw material , but only fit for softer amorphous marble found in Italy. PM has taken the case to the International Court of Arbitration in Geneva for the losses it has incurred due to suspect technology from the Italian company. There are several plants in other countries closed down due to Breton's wrong technology. PM was declared sick and about 70 percent of the equity of Rs11 crore was from the public. (rk)

Comment:

Polar Marmo (PM) and Kedia Agglomerates (KA) had tied up with Breton SRL of Italy for technical know-how for manufacture of white cement bonded agglomerated marble slabs and resin bonded agglomerated granite slabs in India in the early 1990s.

Legal issues & crime, India, All Other Industrial Machinery Manufacturing, Misc Special Industry Equipment, Dimension Stone Mining and Quarrying, Marble & Travertine Dimension Stone, Industrial equipment, Industrial equipment industry, Marble quarrying, Dimension stone, Breton S.p.A., Polar Marmo, Kedia Agglomerates

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SPIC GETS REPEAT ORDER FROM KUWAIT REFINERY

Article Abstract:

Spic Group has bagged a mechanical maintenance contract from Mina Abdullah Refinery in Kuwait. The contract is worth $50 million. This is the second order for Spic group (earlier it had obtained a contract in 1994). Spic will be executing the current project in association with Gulf Spic Contracting Company, a Spic's joint venture unit in Kuwait. (um)(psr)

Use of services, Contracts & orders received, Petroleum Refineries, Petroleum refining, Building maintenance services, not elsewhere classified, Janitorial Services, Kuwait, Plant Maintenance Services, Factory maintenance services, Spic Ltd., Mina Abdullah Refinery

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