Financial Daily from THE HINDU group of publications
Tuesday, Dec 13, 2005
Financial Daily from THE HINDU group of publications Tuesday, Dec 13, 2005 |
|
|
|
|
|
|
|
Corporate
-
Overseas Investments Carborundum Universal sets up unit in UAE Our Bureau
Chennai , Dec. 12 CARBORUNDUM Universal Ltd has informed the stock exchanges that it has set up a 100 per cent subsidiary in Ras Al Khaimah, UAE, "for marketing its products — abrasives, ceramics, refractories and electrominerals in the West Asia." The subsidiary has been established in Ras Al Khaimah Free Trade Zone, Ras Al Khaimah, U.A.E. Mr H.H. Shiekh Faisal Bin Saqr Al Qassimi, Chairman of RAK Free Trade Zone, handed over the license to Mr M.M. Murugappan, Chairman of the company. Ras Al Khaimah Free Trade Zone has been chosen by the company to start its West Asia operations due to its strategic location. Once the marketing operations stabilise, the company may consider setting up manufacturing operations based on feasibility. "At present, it is only a marketing office," Mr Murugappan told Business Line, speaking from Dubai. He said the office would be staffed with three people to begin with. He added that the company would study the feasibility of setting up a manufacturing facility there. Any investment decision would take about a year, he said.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page More Stories on : Overseas Investments
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|