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Twenty Years Ago Today: August 12

August 12 | Updated on August 11, 2021

Snowcem, Jenson tie up; form marketing venture

Leading paint companies, Jenson & Nicholson (J&N) and Snowcem (India) Ltd, today said their boards have approved a strategic alliance between the two including the formation of a 50:50 joint venture marketing company. “The joint venture is dedicated to bring the selling arm of both companies for all their decorative products together as a market-force,” an official statement said, highlighting the alliance as “a perfect match” given Snowcem’s strength in exterior cement paints and that of J&N in interior paints besides being “the first runner in tinting manufacture.”

Tatas, Thapars interested in coal joint ventures

Indian corporate giants such as the Tata and Thapar groups are showing interest in setting up joint venture greenfield coal projects in collaboration with the state-owned Coal India Ltd (CIL). It is learnt from authoritative sources that both the groups have held discussions with CIL in this regard. CIL is reportedly confident that it will be able to rope in prospective private promoters, to start with for at least three large joint venture opencast non-coking coal projects - two in the command area of Central Coalfields Ltd and one in Eastern Coalfields Ltd (ECL).

BPL board reshuffled

BPL Ltd has inducted three new additional directors onto its board while Mr L.H. Bhatia and Mr Shashi Nambiar, have resigned their directorship to take up new responsibilities. Mr K. Jayabharat Reddy, former Chief Secretary of Andhra Pradesh and earlier Secretary in the Finance Ministry (Banking Insurance), has been co-opted as additional Director. A similar position has been given to Mr K. Jayant Kumar and Mr Suraj Mehta.

Published on August 11, 2021

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