Hindustan Motors plans to make Pajero
Chennai: Hindustan Motors Ltd. (HML) is considering manufacture of Pajero in India, a multi-utility vehicle from Mitsubishi Motors. A final decision on the launch is expected after the government unveils its auto policy and the duty structure in the next budget.

The company has conducted preliminary market studies for launching the product and the results have been found to be encouraging. The study has indicated market acceptability of the brand and shown Pajero to be a good buy at Rs 20-22 lakh against the current landed cost between Rs 25 and Rs 33 lakh for the imported model.

For some time, HML has been looking at bolstering its capacity utilisation at its car plant near Chennai, which is currently hovering around 50 per cent. The company is also hoping to capitalise on the excellent performance of Lancer in the JD Power survey, which rated the model as the `best premium mid-size car' in India for two years in a row.
Back to News Review index page 

Geologistics Corp increase its stake to 100 per cent
Pune: Geologistics Corporation is planning to hike its stake in its Indian operations from 80 percent at present to 100 percent paving the way for creation of a wholly owned subsidiary, Mr. Andrew Birtley, CEO of Geologistics Ltd. has said. The US-based $1.6 billion logistics services and supply chain management company set up its Indian operations in April 1998 and is now a Rs 100 crore company.

The company is planning to set up a central multi-user facility of around 1 lakh sqft in the fourth quarter of next year. Mr. Birtley has said that an investment of a $5 lakh will be made on this facility besides expansion of its warehouse facilities. Geologistics recently launched its end-to-end logistic services from Pune after it signed up with Cummins Auto Services Ltd, Pune, for providing integrated logistics services for distribution of spare parts for commercial vehicles involving a web-based system. The company has also for the first time launched global logistics services for the publishing industry.
Back to News Review index page 

Rane (Madras) to sell stake in two joint ventures
Chennai: The board of directors of Rane (Madras) Ltd has approved the sale of investments in joint venture companies to associate companies or financial institutions for an aggregate value of Rs 16 crore. Mr L. Ganesh, group vice-chairman has said that the transaction value for transferring the shares held by Rane (Madras) in the two joint ventures to Rane Brake Linings was Rs 9 crore.

The stake of Rane (Madras) in two of the joint ventures -- TRW Rane Occupant Restraints Ltd and Rane Nastech Ltd -- are proposed to be transferred to another group company, Rane Brake Linings Ltd. The cash infusion that would come from the sale of its stake in the joint ventures is expected to help Rane (Madras) retire some of its high cost debt and reduce interest burden.

The Rane (Madras), produces steering gears and is entirely dependent upon the original equipment market (OEM) for its business.
Back to News Review index page 

TVS-Suzuki sales rise 6 per cent in Nov
Chennai: Two wheeler major TVS-Suzuki has reported six per cent growth in sales in November, mainly attributed to its rising motorcycle sales. Suzuki Fiero, the new motorcycle from the company's stable has notched up sales of 6,588 units in November and an average of 5,500 units per month in this fiscal.

The company sold 75,684 units during the month under review over 71,688 units in the same month of 1999. The November sales were, however, down 1.3 per cent compared with 76,664 units sold in October this year. Cumulative sales (April-November 2000) have increased 10 per cent to 5.95 lakh units from 5.39 lakh units in the year ago period.

Motorcycle sales pegged at 31,837 units, up 17 per cent over 27,208 units sold in November last year improving their share in the overall two-wheeler sales to 42 per cent from 38 per cent in the same month last year.

Scooters also jumped up 8 per cent at 12,526 units in November against 11,624 units in the year ago month. Moped sales, however, dropped 5 per cent to 31,321 units in the reference month from 32,856 units last year.

TVS-Suzuki has already achieved 24 per cent market share in the domestic two-wheeler industry, attaining a aggregate turnover of over Rs 1,600 crore.
Back to News Review index page 

Mahindra’s Knowledge park to be ready by 2001-end
Chandigarh: Mahindra Realty and Infrastructure Developers, is all set to begin work on the Rs 350-crore Mahindra Knowledge Park in Mohali, spread over 15 acres of land. The project slated to be completed in 12-15 months time, is a joint venture between MRIDL and Electronic Corporation of Punjab (ECP) will be the first of its kind in Punjab.

While MRIDL, which is currently executing the Tirpur Water Project and Mahindra Industrial Park in Chennai, will be the main promoter with 89 per cent equity, the Punjab government will hold 11 per cent of the equity. Initial equity in the project, according to Mr Anand Mahindra will be Rs 50 crore. He said, the ECP's contribution of Rs 5.3 crore, corresponding to 11 per cent of the equity, will be in the form of land for the project.

The proposed park, located in sector 67 of Mohali, will provide 'plug and play' world-class facilities and services to encourage IT investments in Punjab. MRIDL, which was awarded the project after an international competitive bidding process, has appointed Nikken Sekkei International of Singapore, internationally renowned architects, to begin the master plan and architectural design of the project.
Back to News Review index page