Leading Edge in strategic alliance with EmpowerTel
New Delhi: Leading Edge Solutions, a company promoted by former Hewlett Packard chief executive, Mr. Suresh Rajpal, has entered into a strategic alliance with the San Jose, US-based, EmpowerTel Networks, primarily a supplier of system solutions for the converging networking and telecommunications markets, to set up telecom R&D facilities at New Delhi and Bangalore.

The two companies will invest upto $3m in the project to set up the R&D facility, which will function as the complete software development arm for EmpowerTel. The US company will be sourcing software to power its USX1000 product line. The facility will also offer support and complete systems integration for the global rollout of the USX1000 product line, slated for the third quarter of this year.
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Jindal Steel attempts to be debt free in two years
Mumbai: After having gone through three long years of recession, Jindal Iron and Steel Company, has begun a restructuring exercise that will aim at making the company debt free in two years time. While the company will complete the expansion of the ongoing cold rolling mill, it will not take up any further new projects.

The company has been facing severe problems because of its investment in the subsidiary, Jindal Vijaynagar Steel, which has not yielded any returns in the last five years.
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Hindustan Motors extends MoU with Proton, Lancer price to increase
Calcutta: The memorandum of understanding between Hindustan Motors and the Malaysia-based Proton Motors for the contract manufacturing of the latter’s cars at the Chennai plant of Hindustan Motors, has been extended by another six months. This extension has been on account of the fact that the Malaysian company has been unable to decide on whether to go ahead with the contract manufacturing in India.

Meanwhile, at the HM end too, there are several issues which remain unanswered, including the question of excise duty on contract manufacturing and liabilities for damages that may caused to the CKD kits in the HM plant.

Company officials from both sides are confident of finding solutions to the existing issues within the extended period.

In the meanwhile, the price of the HM produced, Mitsubishi Lancer, is likely to be increased following a three per cent increase in the price of the kits from the Japanese parent company.
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Lucent Indian operations achieve a significant milestone
New Delhi: Lucent Technologies has achieved a milestone in its India operations by providing one million telephone lines nationwide with its backbone 5ESS switch manufactured in Bangalore for the Indian market.

The company is strengthening its state-of-the-art manufacturing facility for switching and power systems located in Bangalore. The 5ESS switch provides a seamless transition to integrated voice and data solutions to the customers.

The advanced switch has ``given the edge'' to Lucent in the wireless area, providing advanced wireless services based on time division multiple access (TDMA), code division multiple access (CDMA) and global systems for mobile service (GSM) technologies.
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Hyundai Motors and Saatchi part ways
New Delhi: Hyundai Motors India, which was in the thick of controversy over its recent advertising campaign that bordered on the maligning of its competitors and for which it was pulled up by the MRTP Commission, has parted ways with its advertising agency, Saatchi & Saatchi. This parting of ways comes on the heels of the Korean company’s decision to synergise its advertising campaigns with its global communication strategy.

It is expected that Bates India will get the account.
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Renault, Nissan to join net-based auto procurement exchange
Paris: The internet based on-line procurement exchange being set up by arch rivals, the Big Three in the US, has found two more partners joining them.

France’s major car manufacturer, Renault SA, and its Japanese partner, Nissan Motor Company, today announced that they will join the on-line exchange being set up by the American giants.

This on-line exchange is the second instance of competitors joining hands to develop an internet based system that will provide substantial cost savings to the partners. In this case, the on-line procurement exchange will represent a $1,000 billion market and provide for substantial cost savings to the five car makers. The on-line exchange would also, it is expected, reduce the lead time for the development of joint products between these competing players.
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