The Hindu Business Line : Corporate developments

Coimbatore, Jan. 17 Brigade Enterprises has said that Brigade Hospitality Services Pvt Ltd, a 100 per cent subsidiary of the company, has signed a management agreement with Sheraton Hotels and Resorts to manage a newly built Sheraton Hotel in Mysore. Sheraton Mysore Hotel will be part of a four-acre development that will include commercial space, in addition to the hotel which has 220 rooms.

Diamond Cables has convened a meeting of the board of directors on January 28 to consider the company’s proposed foray into transmission tower business and setting up of a greenfield project/acquisition of transmission tower manufacturing facility, expansion projects in aerial bunched cables and LT XLPE cables and the company’s and its subsidiaries’ business plan for the year 2008-2009.

Emco has stated that the board of directors has approved the sub-division of the equity shares of the face value of Rs 10 each into shares of face value of Rs 2 each.

Steel Strips Wheels has received its first export order for its upcoming plant at Oragadam near Chennai from PSA Peugeot Citroen, France. The order is for the supply of 13,75,000 steel wheel rims over a period of 5 years, valued over Rs 75 crore. The Chennai project is likely to start trial production in first quarter of 2008-09. PSA Peugeot Citroen, France, is the second largest manufacturer of cars in Europe and the leading manufacturer of light commercial vehicles.