IDL CHEMICALS MAY BUY OUT ASTRA'S STAKE IN ASTRA-IDL

Article Abstract:

The Hinduja group company, IDL Chemicals, which is a joint venture partner of Astra AB of Sweden in the Rs100 crore Astra- IDL in Bangalore, is all set to hike its stake by buying out the holding of the Swedish partner. This move of IDL comes after Astra submitted a letter to SEBI stating that it either wanted a controlling interest in the company or was willing to dilute its stake fully. Through this letter, Astra planned to put pressure on IDL to give up its stake in the joint venture in its favour, as IDL depended on it for technology and formulations. But Astra'a scheme was throttled with IDL proposing to acquire its stake. At present, Astra and IDL hold 25.75 percent stake each and the remaining is with the public. In 1997-98, Astra-IDL posted a turnover of Rs102 crore (Rs81 crore in 1996-97) and net profit of Rs11 crore (Rs7 crore). (gsh)

Comment:

IDL Chemicals intends to acquire holding of this co in Astra-IDL JV

Parent-to-subsidiary activities, Subsidiary-to-parent activities, IDL Chemicals

---

ASTRA-IDL PROMOTERS FACE THE MUSIC

Article Abstract:

The shareholders of Astra-IDL (AI) want Astra Pharmaceuticals AB (APA) of Sweden to reconsider its decision to quit the venture. At the annual general meeting of AI, the shareholders of AI had taken to task the promoters of Astra-IDL (AI) and the Hindujas of IDL Industries (II). II and APA have 25.75 percent stake each in AI. APA's products account for 65 percent of the sales of AI. AI posted a 6 percent fall in sales in the first 5 months of 1998- 99. The AI scrip is trading at Rs200 on the Bombay Stock Exchange. (rk)

Comment:

Shareholders of Astra-IDL want the Swedish company to reconsider its decision to quit the venture, India

Foreign operations, Joint ventures, Organizational history, Sweden, Astra Pharmaceuticals AB

---

BFL SOFTWARE BAGS ASTRA MEDICAL DEAL

Article Abstract:

BFL Software of Calcutta has been awarded the assignment from Astra of Sweden. BFL will put together a team in India on offshore basis which will support the quality system for the Swedish company's operating systems. The entire software package will be organised in India on the pattern of drug related research being conducted by Astra. The contract is valued at $0.5 million annually. BFL reported a loss of Rs13.5 crore for the period between October 1997 to March 31, 1998. (uh)

Comment:

Receives contract from Astra to put together a team in India that will support quality system for Swedish Co's operating systems

Software Publishers, Systems Software Pkgs (Micro), Use of services, Contracts & orders received, Operating systems (Software), BFL Software

Similar abstracts:

• Abstracts: HEADS HIGH - ROOFIT INDUSTRIES. WINNERS ALL THREE - ACC
• Abstracts: TATA CHEMICALS NAGARJUNA FERTILIZERS AND CHEMICALS LIMITED. SWC BOARD RECAST, KOMAL WAZIR MADE DIRECTOR
• Abstracts: SUN PHARMACEUTICAL INDUSTRIES RELIANCE INDUSTRIES: THINK GLOBALLY ACT LOCALLY
• Abstracts: GLAXO INDIA: THE TONIC BEST BUYS IN A FALLING MARKET: NESTLE FINOLEX GROUP: MISPLACED INTERESTS!!
• Abstracts: TRYING TIMES AHEAD RAJINDER GROUP - STRATEGIC MISTAKES SPOIL DREAMS SINGI GROUP - UNSCRUPULOUS PROMOTER

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.