HCL TECH TO LOG ON TO M&A MODE
Article Abstract:
HCL Technologies, a multinational information technology firm, plans to set up a fully-owned subsidiary in India. The move is to focus on acquisition in the information technology segment in India. The proposed arm will be involved in merging and acquiring (M&A) software development centres in India. HCL Technologies proposes to invest $5 million in its Indian subsidiary in the next 3 years. Through its Bermuda-based firm, HCL Technologies plans to bring in Rs10 crore in the first year of its operations in India. It intends to make a final investment of Rs21 crore by the end of the third year. HCL Technologies plans to focus on Internet business and enterprise management services. It will also deal in e-commerce infrastructure application services and support system services in the telecommunication sector. (gs/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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FOUNDATION STONE FOR TOYOTA TECH PARK LAID
Article Abstract:
The foundation-stone for the Toyota Techno Park India Pvt Ltd has been laid at the Bidadi industrial area, near Bangalore. Toyota Motor Corp has 70 percent stake and Toyota Tsusho Corp the rest in Toyota Techno Park India Pvt Ltd. The park offers infrastructure and other facilities to Japanese vendors, who are setting up plants in the industrial estate. The park is being set up on 29.6 acres of land with an investment of Rs45 crore. The operations will begin by July 1999. The park will provide industrial estate management, infrastructure and utilities like power, water, cafeteria, company bus, parking services and security. The plants of TG Kirloskar Automotive Pvt Ltd, Stanzen Toyotetsu India Pvt Ltd, Sona Steering Systems Ltd, Steel and Logistics Centre Pvt Ltd will be located in the park. (rk) (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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