Corporate
Richardson & Cruddas to cut costs through VRS
RICHARDSON & Cruddas Ltd (R&C), a subsidiary of Bharat Yantra Nigam Ltd, has offered a voluntary retirement scheme (VRS) to its 1,000-odd workforce. The scheme is part of the cash-strapped company's revamp plans to cut costs.
Mauna Loa plans to set up new extraction unit
EVEN as the US-based Mauna Loa Macadamia Nut Corporation (MLMNC) launches its cooking oil in the country through its global distributor, C&M Enterprises, the latter is also preparing to set up its extraction unit in the country by March 2001.
Al Kabeer has plans for seafood unit in Chennai
THE Rs 200-crore Al Kabeer group is actively considering a Rs 10-crore seafood processing unit in Chennai, according to the group Chairman, Mr S.C. Subberwal.
Cos gear up for Excon 2000
THE big battle between heavyweights begin tomorrow at the Excon 2000, for who will rule the Indian construction sector. At stake is the Rs 3,000-crore industry, and the plum contracts for several infrastructure projects.
Gujarat Dairy asked to submit rehab proposal
GUJARAT Dairy Development Corporation Ltd (GDDCL) has been directed by the Board for Industrial and Financial Reconstruction (BIFR) to submit a rehabilitation proposal within a stipulated time frame.
Reckitt & Colman to focus on mass market stock
RECKITT & Colman of India, which today received shareholders approval to facilitate change of name to Reckitt Benckiser, will henceforth focus on introducing mass market products from the Benckiser stable.
Sun Earth Ceramics buys out 2 European firms
SUN Earth Ceramics Ltd, manufacturer of Sonora brand tiles, has acquired two European companies at a total cost of $5 million. Sun Earth has picked up 72 per cent equity stake along with a couple of co-investors in a Romanian tile and sanitaryware compan
y, Sanex, and 51 per cent stake in Monalc, a tile-maker based in Spain, institutional sources told Business Line.
Shree Synthetics to trim capital base
SHREE Synthetics Ltd may not come out of the red in the current financial year despite some improvement in operations, infusion of fresh capital through preferential allotment, proposed reduction in capital base and fund transfer from the capital redempt
ion reserve and share premium account.
BASF transfers textile dyes business to DyStar
THE board of directors of BASF India Ltd has approved the proposal to transfer the sales and marketing business of textiles dyes to DyStar.
Pharmaceuticals
Cybele Herbal clears WHO quality tests
CYBELE Herbal Laboratories, manufacturers of Cogent DB, a herbal-based medicine for diabetes, has received WHO approval for implementing the hazard analysis critical control point (HACCP) at its Chalakudy plant.
DCA orders action against SOL Pharma
THE Department of Company Affairs (DCA) has ordered prosecution against Hyderabad-based SOL Pharmaceuticals Ltd and its Chairman-cum-Managing Director, Mr C. Chandrasekara Reddy, for not transferring unpaid dividend to the general revenue account of the
Central Government for 1993-94 and 1994-95.
