Financial Daily from THE HINDU group of publications
Sunday, Jul 18, 2004
Financial Daily from THE HINDU group of publications Sunday, Jul 18, 2004 |
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Corporate
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Announcements Elico plans to add 10 more countries to export list Our Bureau
Hyderabad , July 17 ELICO Ltd, a chemical analytical instruments player, has decided to expand to new lines of activity such as chromatography instrumentation this year. According to Mr Ramesh Datla, Managing Director of Elico, the company exported its products to 12 countries last year. "We are going to add 10 more countries this year," he told Business Line. "We have developed as many as 40 technologies so far in this niche area globally," said Mr Datla, who is also the Chairman of Confederation of Indian Industry's (CII-AP) chapter. Elico has associated itself with four US and four UK companies and Council for Scientific and Industrial Research. "We are going to add 10 more clients in Europe and the US," he said. He said the company had no plans to go for a public issue. The company, which also runs a 250-seater healthcare business process outsourcing unit, would add 100-150 seats this year. "We will hive off the BPO unit at a later stage," Mr Datla said. The four-year-old BPO does medical coding and billing. "We have got a very low rejection rate of just 1 per cent-2 per cent. Our knowledge pyramid provides for scrutiny of discrepancies and anomalies in the claims that have been realised or rejected," he said. The idea was to understand the reasons for deviations and to plug them accordingly, he added.
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