Pentafour Software transfers unit to group co
Chennai: Pentafour Software & Exports is transferring its business software division as a going concern to group company Pentafour Communications. The company wants  to focus on multimedia, as it is one of the world leaders in this segment now. It has engaged three consulting firms to do a valuation. The business software division handles banking, insurance, ERP, e-commerce and emerging technologies-related work.

Pentafour Communications plans share and ADR/GDR issues to fund the acquisition. The company will also increase its authorised capital from Rs 15 crore to Rs 50 crore.
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GE sets up R&D centre
Bangalore: General Electric is setting up a research and development centre in India. The Rs 170-crore GE India Technology Centre will come up at Bangalore in two phases and it is expected to be amongst the largest multi-disciplinary research centres in the country. The centre will be an integral part of GE’s global research and development efforts and will closely work with the US multinational’s corporate R&D centre in New York. It will provide the company with critical technology in developing its global businesses.

The centre plans to have some 500 research scientists, specialising in chemical engineering, polymer sciences, information technology and mechanical and electrical engineering.
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Enron interested in stake in oil cos
Mumbai: Enron Corporation says it is looking for stakes in state-run oil corporations. The US company, which is now developing a power plant at Dabhol in Maharashtra along with a LNG terminal, says it is looking at acquisition of stakes in public sector companies to enhance its business prospects in India. The company had recently acquired a stake in Gas Authority of India. Enron’s chairman and chief executive officer Kenneth Lay says, that besides the oil sector, his company is also interested in the telecom sector and is planning to develop fibre optic capability in the country.
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Reckitt & Colman to improve delivery system
Calcutta: Reckitt & Colman has engaged Andersen Consulting to carry out a study of its distribution system. The company wants the consultants to advise on an efficient and cost-effective delivery system that will help the customer to get enhanced value.
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Europe Star offers Ku-band capacity
New Delhi: UK-based Europe Star is offering bandwidth on its Ku-band transponders. The capacity will be available to Internet service providers, VSAT services and distance education providers. The company, a joint venture between Alcatel Spacecom of France and Loral Space and Communications of the US, is set to launch its satellite by mid-2000 with some 30 transponders, eight of them focused on the Indian subcontinent. India’s space policy does not allow use of Ku-band transponders of satellites owned by foreign firms, but Europe Star hopes there will amendments to the relevant policy in this regard soon.
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V-Guard plans cable factory
Kochi: V-Guard Industries is setting up a Rs 14-crore manufacturing facility for making PVC-insulated wiring cables near Coimbatore. The company at present has a large presence in the voltage stabilizer market. It has been making cables in Mysore using a leased factory. The product range planned includes automobile cables, coaxial cables and power cables.
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P&G account for Madison and Leo Burnett
Mumbai: Proctor & Gamble is understood to have engaged Madison Media as its agency of record. Madison, with a total billing of Rs 250-crore, will now handle media buying for all P&G brands with an annual budget of Rs 50 to Rs 60 crore.

Further, in an unique move that represents a new concept of 'unbundling', P&G has awarded the media planning for all its brands to Chaitra Leo Burnett. This activity is to be implemented by Starcom India, the soon to be set  up Indian arm of the international media division of Leo Burnett. This is the first time that a company in India has sought to bifurcate the media planning activity which has traditionally been with the creative agency.
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Henkel Spic buys stake in Calcutta Chem
Chennai: Henkel Spic India has acquired 25.77 per cent of the total equity of the Calcutta Chemical Company. Henkel Spic told the Madras Stock Exchange that it has acquired the shares under an agreement with a major shareholder signed earlier this month, and it proposes to buy more shares from the minority shareholders.
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Tamil Nadu objects to DuPont deal
New Delhi: The Tamil Nadu government has raised objection to the proposed sale by DuPont Fibre of its nylon industrial yarn unit in Tamil Nadu to SRF. The government says that DuPont has not met with its investment commitments made in an agreement with the government.

Earlier, a villagers’ association had filed a writ petition in Madras high court against the management of DuPont, objecting to the sale.
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TVS Electronics plans software unit
Chennai: TVS Electronics is setting up a separate software business unit. It plans to introduce products in areas like automation of retail sales, banking and ATM payment processing. TVS Electronics has a very effective distribution network for its established products like computer peripherals and UPS systems and it proposes to make use of this network in introducing the software products. The company already has a presence in software market through its Sundaram Telematics, which has received orders for developing telecom software for Lucent technologies.
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No Embraer planes for Sahara now
Bangalore: Sahara Airlines has deferred its plan to acquire 30-seater Brazilian Embraer aircraft till the first quarter of the next financial year. The airline plans to concentrate on bringing in larger Being 737 aircraft into its fleet. Sahara Airlines director Parvez Damania said, the company plans to utilise the new Boeing 737 range of aircraft. It has two B737-200, four B737-400 and one B737-700. It is receiving two new B737-800s on lease from the manufactures and another B737-400 will be delivered early next year.
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Supreme Court stays order on BDA
New Delhi: The Supreme Court of India has stayed an order of the Calcutta high court allowing Shaw Wallace and Company to nominate two directors on the board of BDA Distilleries. The court allowed an appeal by Herbertsons against the high court order. The court clarified that the stay will remain operative till the disposal of the interim application before the high court.
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UPS, Elbee call off JV plan
Mumbai: Global courier company United Parcel Service has dropped its plan for a joint venture with domestic company Elbee. UPS has floated a wholly-owned subsidiary, UPS India, following approval of its application by the Foreign Investment Promotion Board. UPS and Elbee had earlier signed a memorandum of understanding to set up a joint venture.

UPS said the proposed subsidiary will focus on the international express segment of the courier industry, the focus area envisaged under the MoU between the two companies.
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Mysore Kirloskar closing down unit
Bangalore: Mysore Kirloskar, a leading Kirloskar group company, is closing its Hubli, north Karnataka unit and shifting the operations to its main unit at Harihar, also in Karnataka. The Hubli unit makes castings for Kirloskar Systems, another group company. Vikram Kirloskar, chairman and managing director of the company, said the workers have been given the choice of shifting to Harihar or opting for voluntary retirement. The company, mainly into manufacture of machine tools, has been posting losses for the last few years.
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Roche spins off unit
Zurich: Swiss pharma group Roche Holding is spinning off its fragrances and flavours division into a new company, Givaudan, estimated to be worth about $4 billion. The spin-off is intended to help Roche to focus on its research-based healthcare business. Roche’s chief executive Franz Humer said, the spin-off will help the company concentrate on its drugs, diagnostics and vitamins business. He also said Roche does not intend to have alliances and is not interested in German drugs firm Boehringer Ingelheim.
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BSkyB to pick up stake in KirchPayTV
London: BSkyB of Rupert Murdoch’s News Corp is acquiring a 24 per cent stake in Germany’s KirchPayTV for $1.48 billion. KirchPayTV operates the major subscription television service in Germany and Austria through its newly merged Premiere and DF1 operations. BSkyB will pay one billion marks in cash and issue 78 million new BSkyB shares to KirchPayTV, giving the latter 4.3 per cent holding in the British company.
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Nestle sells 3 coffee brands
Vivey, Switzerland: Nestle says it has sold its Hills Bros, MJB and Chase & Sanborn brands of ground coffee to Sara Lee. Nestle intends to focus on its premium line Nescafe. The sale includes the company’s roast and ground coffee plant at Suffolk, Virginia. Sara Lee will also offer to hire the employees at the facility, Nestle said. The terms of the sale are not disclosed.
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Mitsubishi to trim number of group firms
Tokyo: Mitsubishi Corporation is cutting the number of its group firms to 112 by the end of 2001-2002 as part of its efforts to improve its efficiency of capital. Mitsubishi, Japan’s major trading house, has some 700 firms now under its fold.
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