M&M subsidiary in tie-up with Lego Toys
Mumbai: Mahindra Intertrade Ltd. (MIL), a Mahindra & Mahindra subsidiary, has entered into marketing and distribution of Lego Toys in a bid to diversify its operations into branded consumer products. As a part of this exercise, Intertrade would develop strategic relationships with key retail groups and use distributors to increase the number of retail outlets.

The company is also considering setting up of Lego shops to create brand awareness and is looking at top 23 metros and mini-metros I the first year of operation before moving on to another 50 cities in the second year.
The market for branded toys is estimated to be worth Rs 350 crore and growing by 20-25 per cent annually.
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Valvoline Cummins looking at acquisitions in India
New Delhi: Valvoline Cummins, lubricants major is planning to acquire domestic companies as a part of its strategy to expand its presence in the country. The company is currently doing a detailed study, to be completed by the end of this year, on various options like building a new plant, buying existing capacity or outsourcing.

Valvoline Cummins is a 50:50 joint venture between Valvoline and Cummins Diesel and Sales Service India, a fully owned subsidiary of engine maker Cummins India. VCL is believed to be looking at both synthetic and mineral oil plants with a threshold capacity of 20,000 tonnes in India. At present, VCL has manufacturing plants at Mumbai and Tarapur.
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Zuari launches low-cost range of furniture
Chennai: Indian Furniture Products (IFP), a division of Zuari Industries, has launched the Zuari range of furniture to take on the competition in the branded furniture segment. The Zuari range is currently available in Tamil Nadu, besides Bangalore and Hyderabad and will be soon launched on nation-wide basis.
The Zuari range will be available in general furniture stores, unlike the high-end range of Gautier furniture, manufactured by IFP in technical collaboration with French furniture major, Groupe Seribo which are sold through exclusive company-owned and franchisee outlets.
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Saw Pipes to exit from JV with Korea’s Daelim
New Delhi: Saw Pipes, part of the OP Jindal Group, has exited from its 50:50 joint venture with Korea-based Daelim Industrial for developing pipelines for refineries. According to Mr. Abhay Bhargava, CEO of Saw Pipes, the company had to break the joint venture, as it found no synergy of operation with the foreign collaborator for future businesses.

Following this development, the company is now planning to focus only on longitudinal welded and spiral pipes and coating businesses in order to improve its bottomline. The company is also planning to sell its majority stake in stainless steel seamless pipes division at Nasik. It will, however, retain its pipes divisions at Kosi and Mundra and its coating plants at Bolepur (West Bengal) and Kandla. The plant at Mundra has a capacity of 1 lakh tonnes of longitudinally-welded pipes.
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Bajaj to tie-up with Allianz for insurance foray
Pune: Bajaj Auto, a two wheeler major is set to foray into the insurance sector with a possible tie-up with German insurance giant Allianz AG. Company sources have been quoted as saying that talks with Allianz are at an advanced stage and a memorandum of understanding (MoU) could be signed by March-end.

The joint venture would involve initial investment of Rs 100 crore Bajaj Auto had applied to the Insurance Regulatory and Development Authority (IRDA) last year for starting general insurance business. It also recently decided to enter life insurance and was scouting for a foreign partner with expertise in life insurance business. Bajaj Auto would apply for life insurance licence with IRDA after firming up plans with Allianz. The JV would be as per the IRDA guidelines, with Bajaj holding 74 per cent equity and Allianz the remaining 26 per cent.
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Morepen to partner Hyatt in Goa hotel project
Mumbai: Morepen Hotels has tied up with international hotel giant Hyatt Regency to set up a five-star hotel in Goa. Mr. Arun Suri, managing director of Morepen Hotels has stated that a memorandum of understanding (MoU) with Hyatt Regency has been signed and the hotel will be called Hyatt Regency Goa.

As per MoU terms, Morepen will make initial investment of around Rs 135 crore, besides land and other infrastructure facilities, while construction and management contract will be taken up by Hyatt. The construction of the 250-room Goan beach resort will commence in February and construction should be over by the year-end.
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McDowell plans brand revamp
New Delhi: McDowell & Co Ltd. is all set for a major brand revamp exercise in a bid to take on likely competition from imported liquor brands, with quantitative restrictions imports scheduled to be withdrawn later this year, as per WTO agreement signed by India.

The company has adopted a strategy of introducing core premium brands like Signature, Vintage, Single Malt, Centenary and also regular brands in pint and nip variants. It also plans to concentrate on the canteen store depot (CSD) channel to increase its sales volumes. The company is also considering placing its premium Signature brand in CSD outlets.

The company is firming up plans on expanding its brand portfolio and several new brands are likely to be launched in the next fiscal. McDowell has introduced mini packs in several of its segments to generate success in its trial promotions of new brands. The company has been emphasising mix of packaging, blend, and imagery for core brands as part of its future marketing strategy.
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Pizza Corner to invest Rs 100 crore for expanding retail network
New Delhi: Pizza Corner India, promoted by Global Investment Partners, TCW-ICICI and Global Retail Investment of Belgium, is planning to invest Rs 100 crore towards the expansion of its retail operations within the next couple of years. The company is also planning to set up a chain of restaurants called `Coffee World' besides a chain of superstores across the country to be called `EkiDiscounts'.

The company has already invested $12 million towards its expansion plans in the country and is now investing another Rs 100 crores to increase its retail outlet network from the existing 24 to 100. According to the company sources, the market for pizza has been increasing in the country with mounting competition among the different players. Availability, quality and reach being key factors, the company is planning to increase its market presence.
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Shri Shakti launches vent-free gas heating products
New Delhi: Shri Shakti Alternative Energy Ltd. (SSAEL) a Hyderabad-based company has launched a range of vent-free gas-fired heating appliances that operate without a chimney, flue or vent and can be installed "just about anywhere.

The range includes space heaters, fireplaces, stoves, fireplace inserts and gas logs. LPG-fired geysers have also been included in this range. The vent-free gas heating products operate on natural gas, propane gas or LPG. The flame is fueled by the gas through a permanent line that is connected to a blue or yellow flame burner within the heating appliance.

These appliances have been equipped with a unique safety pilot system called oxygen detection safety-pilot. This system automatically shuts off the gas supply in the rare event that the oxygen level in the room falls to 18 per cent.

The International Finance Corporation (IFC) has recognised the company's efforts regarding usage of cleaner alternative forms of energy and has taken a 26 per cent stake in SSAEL.

The appliances are design-certified by the American Gas Association for latest US safety standards.
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