Tommy Hilfiger set to enter India
Mumbai: Tommy Hilfiger Corporation has reportedly confirmed its proposed move to set up shop in India for its range of apparel and accessories. Tommy Hilfiger is known for its lifestyle brands in several countries around the world. The brand is currently available in 49 countries worldwide. In India, it is expected to adopt the licensing and distribution agreement route.

The company plans to sell its products in leading department and speciality stores, which include ready-to-wear range for men, women and children besides sportswear, jeans wear, accessories, footwear, fragrance and home furnishings.

The ready-to-wear market in India is currently reckoned at around Rs 15,000 crore with the men’s wear alone amounting to Rs 5,000 crore, with the market growing at 25-30 per cent per year.
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Hyundai to set up its subsidiary in India
New Delhi: Hyundai Heavy Industries Company, part of the South Korean Hyundai Corporation, is setting up a wholly-owned subsidiary in India. The subsidiary will take up construction, installation and maintenance of various infrastructure projects in the power sector.
The subsidiary will be set up with minimum investment initially and additional funds will be deployed as when it has to take on projects.

Hyundai Heavy Industries is already an equity partner in Tidel Park in Tamil Nadu in collaboration with the state industrial development corporation. Besides the power sector, the company will also be bidding for engineering project construction contracts in other infrastructure sectors such LNG and petroleum and pipeline sectors and offer exploration services in the oil and gas sector.
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Ray Ban to recharge brand in India
New Delhi: Ray Ban, one of the world’s topline brands, has begun a major brand rebuilding exercise in the Indian market. The move follows the worldwide takeover of Bausch & Lomb by the Italian eyewear major Luxottica, which acquired the Ray Ban brand for $630 million.
The erstwhile Bausch & Lomb India is now been renamed Ray Ban Sun Optics and the eye care business of the combined entity has been hived off as a separate company to Bausch & Lomb, which is continuing that business.

As a part of its brand revamp exercise, Sun Tamers, a Ray ban sub brand launched at a lower price is being withdrawn. The new management has also stopped institutional sales, as it was negative impact on its brand equity. The overhaul also includes revamp of the supply chain, increasing product quality and cutting down on excess business levels. It has set itself a target of selling almost 2.5 lakh pairs in the current year.
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Stone India unsure of Westinghouse JV plan
Kolkata: The proposed joint venture between G P Goenka group company - Stone India and the US-based Westinghouse Air Brake Technologies Corporation Inc (Wabco), among one of the leading railway equipment suppliers has got into trouble with the time overrun in starting the proposed venture.

Problems in acquisition of land for the proposed project and equity structuring of the deal are among some of the irritants that are believed to have been among the reasons that have caused inordinate delay in taking up the JV venture.

The group had earlier announced the venture, wherein the Indian firm was proposed to have a minority stake, in April. It also proposed to transfer men and machinery related to the railway business, Stone India's main money-spinner, go to Wabco. However, it did not want to sell-off of the railway business assets to the overseas firm. The railway business accounts for nearly 90 per cent of the company's turnover. Stone India manufactures equipment for the railways including alternators, air brakes and brake regulators. The company also manufactures colour monitors and secondary components for the defence sector.
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Godrej launch 'Pentacool' refrigerator range
New Delhi: Godrej & Boyce has launched 'Pentacool', its latest addition to refrigerator range as part of its strategy to widen its offerings in this segment. 'Pentacool' is being launched in Delhi today has four variants - two frost-free and two using standard direct cooling method. All models have been made taller than the normal height of any refrigerator.

Pentacool has already been launched in Mumbai and Kolkota.
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Silox takes 61 per cent in Transpek Metals
Baroda: Silox SA, a Belgium-based transnational has picked up a controlling 61 per cent stake in Transpek Metals and Oxides, a wholly owned subsidiary of Transpek Industries, one of the world’s largest manufacturer and exporter of sulphoxylates. Under the new equity pattern, Shroff family, along with financial institutions and others will have 39 per cent stake in the new company. Transpek is the largest manufacturer of sodium hydrosulphite, zinc oxide and zinc dust in India.
The acquisition has offered Silox — a 50:50 joint venture between Prayon of Belgium and Cybelle group — a significant strategic advantage over its rivals in Asia Pacific region as Transpek is the market leader with 45 per cent to 60 per cent market share in different products.
The zinc and sulfur business company, which has been rechristened - Tranpek Silox Industries Ltd., is expected to register turnover of Rs 170 crore at the end of current financial year.

The acquisition has offered Silox wide range of products, which will be marketed in European Union, north American and Latin American market through marketing network of Silox, which itself is the largest producer of active Zinc Oxide in the world. Silox enjoys around 10 per cent market share in European Union in zinc oxide business.
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Gail to invest Rs. 9,500-cr in infrastructure projects
Kolkata: The Gas Authority of India Ltd. (GAIL) has decided on investments worth Rs 9,500 crore in the next three years for development of pipeline infrastructure in the country. The proposed investments are to be financed mainly through internal accruals. GAIL is the largest distributor of natural gas in the country. Of the proposed investments, Rs 6,000 crore will be spent on expanding the LNG pipeline across length and breadth of the country and another Rs 2,000 crore would be spent in setting up the LPG pipeline infrastructure from major refineries.
Last year, it recorded a post-tax profit of Rs 861 crore on a turnover of Rs 8,415 crore. In the current year, the company was expected to notch up a sales turnover of Rs 1,050 crore.

Gail has been identified as a strategic public sector undertaking from the point of view of fuel security of the country and government holding in the company is about 67.3 per cent. Its stock is currently listed on the London Stock Exchange (LSE).
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SRF in recast mode, weighs merger of Tyrecord Fabric
New Delhi: SRF Ltd. is embarking on a restructuring plan, including possible merger of group company - Tyrecord Fabric Ltd. with itself. The restructuring exercise is aimed at building distinct competencies based on requirements in its different businesses.

The SRF board in line with its restructuring plan recently decided not to subscribe to the proposed rights issue of Rs 5 crore by Indian Ophthalmic Lenses Manufacturing Company Private Ltd. The joint venture, which manufactures plastic ophthalmic lenses, was formed in 1998 with Essilor International SA of France and Sola International Inc of US as JV partners.

Following this decision, SRF Ltd.'s shareholding in the JV will now come down to 8.67 per cent from 10 per cent.

SRF, which has plans to emerge as the third largest player in the world in the tyre-cord market by 2004-5, is working on a major acquisition. It is also reported to be in talks with some of its competitors in the domestic market and overseas for acquisitions. In order to emerge as the third largest tyre-cord manufacturer, SRF will have to increase capacity from 42,000 tonne to 70,000 tonne per annum. The company has set for itself a target reaching a capacity of 50,000 tonne by 2001.
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