Thursday, March 11, 2010

IBM experts lend a helping hand to city institutes

IBM Corporate Services Corps (CSC) programme:

“As part of CSC, IBM places its top performing employees with the company’s partner NGOs and not-for-profit government organisations for four weeks. The volunteers work on an IT-based project that would help the organisations,” said Ramesh Narasimhan, director, IBM India/South Asia.

This year, IBM tied up with Film and Television Institute of India (FTII), Teach For India, Chaitanya, Software Institute for Rural Development (SIRD) and YASHADA, Narasimhan said.

The CSC programme began in 2008 in Ahmedabad and Mumbai and this is the first time it has been launched in Pune along with Hyderabad and Bangalore.

To read more, please, visit Indian-Express

Venky's Invests in Poultry Vaccine Plant in Switzerland

The VH Group (Venkateshwara Hatcheries) is entering Europe with a state of the art poultry vaccine manufacturing facility in the Canton of Jura in Switzerland, the first Indian company to do so.
Working with the economic promotion agency, BaselArea, the VH Group was able to find an appropriate site in Bassecourt, in the Canton of Jura and to establish the new company in Switzerland within the shortest time possible.

The VH Group (Venkateshwara Hatcheries) is the leading Indian poultry conglomerate based in Pune. Incorporated under the name Venky's Inc., the state of the art manufacturing facility in Bassecourt will provide a major stepping stone for the VH Group to strengthen its position in the European market.

"One of the main reasons for us to come here is the high quality standard related to Switzerland", says Mr. B. Venkateshwara Rao, Managing Director of the VH Group.

To read more, please, visit Indian PR wire

Thermax, Babcock ink JV for supercritical boilers

Pune-based Thermax will own 51% stake while Babcock will control the remaining 49% in the venture which will have an initial annual capacity of 3,000 MW equivalent.
The supercritical boilers will be manufactured in a new facility that is being planned. The plant will indigenise the technology and contribute to local component development, said the companies in a joint statement.

Pune-based Thermax will own 51% stake while Babcock will control the remaining 49% in the venture which will have an initial annual capacity of 3,000 MW equivalent. The supercritical boilers will be manufactured in a new facility that is being planned. The plant will indigenise the technology and contribute to local component development, said the companies in a joint statement.

The government wants to produce a majority of the proposed capacity addition of 1 lakh MW by super-critical technology which costs less and is more environment friendly. Supercritical boilers operate at high pressures increasing efficiency and producing more energy from the same amount of fuel. They also cause less harm to the environment.

To read more, please, visit The Economic Times

Fitch Rating assigns Fresenius Kabi India Pvt Ltd a National Long term rating of 'BB+(ind)'

FK, a subsidiary of Fresenius SE ('BB'/Stable) (a global health care group), is focused on providing both inpatient and outpatient therapy and care for critically and chronically ill patients.

FKIPL operates FK;s operations in India and its infusion therapy products are manufactured at its plant in Pune (the only World Health Organization - Good Manufacturing Practices certified factory in Asia).

The infusion products are sold domestically as well as internationally, while the clinical therapy products and medical devices are imported for domestic consumption from FK's global product portfolio manufactured at its overseas plants.

To read more, please, visit Reuters

Daimler Sells Tata Motors Stake

German car and truck maker Daimler said it has sold all of its 5.34% of the ordinary shares of Indian automotive company Tata Motors to various groups of investors through the capital market.
The company said it will receive a cash inflow of roughly euro 300 million from the sale of its shares, due to the recent increase in the price of Tata shares. Daimler said the transaction will have a positive effect on its EBIT of around euro 265 million and will be accounted for in the first quarter of 2010.

In a statement, Daimler said that having an equity position in Tata is no longer necessary. The company said it is in an “excellent position” to capitalize on the growth potential of the Indian passenger and commercial vehicle markets and continues to intensify its own activities there. Daimler said it made the move “in full consultation” with Tata, and that relations between the two companies “are excellent and will not be adversely affected by this sale.”

To read more, please, visit FinancialWire™