Business Daily from THE HINDU group of publications
Sunday, Jul 29, 2007
ePaper
Business Daily from THE HINDU group of publications Sunday, Jul 29, 2007 ePaper |
|
|
|
|
|
|
|
Corporate
-
Overseas Investments Phillips Carbon venture with Vinachem may be formalised in September
Our Bureau Kolkata, July 28 Phillips Carbon Black Ltd will give formal shape to the proposed joint venture with Vietnam National Chemical Corporation (Vinachem) in September for a $45-million and 50,000-tpa carbon black facility there. “We have firmed up the broad structure of the joint venture and the investments in the past few weeks. It has been decided that Phillips Carbon would hold 80 per cent stake in the joint venture, through a special purpose vehicle, which could be registered overseas. State-owned Vinachem would pick up 20 per cent stake through three of its arms,” the Phillips Carbon MD, Mr Ashok Goyal, told newspersons after the 46th annual general meeting here on Friday. Partners would take a call on the project execution details such as debt equity ratio, corporate structure, investment routes, installation engineering, operational synergies with Phillips Carbon and project timetable after (the company’s) in-house feasibility study is tabled by this quarter-end. During the quarter ended June 30, the company reported a jump in PAT to Rs 22 crore from Rs 14 lakh in the comparable quarter of 2006-07. Apart from operational efficiency, better price realisation and lower finance cost, currency gains alone contributed Rs 7.57 crore towards bottomline. During the current quarter, Phillips Carbon may raise price, Mr Goyal said. Last Saturday, Dunlop has settled old dues worth Rs 2.25 crore, which will buoy the topline for the July-September quarter.
More Stories on : Overseas Investments | Chemicals
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, 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
|