Silver Software to expand:

Silver Software, a UK-based software engineering services provider, which recently merged with the technology and systems business of Atena Engineering (subsidiary of Assystem Group) in Germany, plans to transfer new engineering capabilities to its Bangalore centre in the coming months.

The privately-held company has development centres in India, UK and Spain with Bangalore accounting for 235 of the total staff strength (350). The Bangalore centre specialises in aerospace, railway signalling, telecom and space-related software engineering.

“Through this merger, we will be gaining expertise in hardware design and system engineering along with an entry into the automotive segment. We intend to shift all the new engineering capabilities that we are acquiring from Atena to the Bangalore centre,” Silver Software CEO Parminder Singh said.

The newly-formed company will see Atena holding the majority stake (55 per cent) with the balance held by share holders of Silver Software.

“The driving factor for the merger is to enhance the complementary skill sets of both the companies. We expect the combined sales of the new entity to be Euro 35 million in the first year,” he added.

The company also plans to double its headcount globally in three years time and two-thirds of this strength will be located in India. “It is our plan to take the staff strength of the company to 1,000 in three years with Bangalore becoming the hub of our core development activities,” Singh said.

Atena Engineering, founded in 1998, has been a subsidiary of the Assystem Group since July 2005. Atena offers systems engineering, software engineering, hardware engineering, safety engineering, real time simulation and test systems. The Technology and Systems division has around Euros 20 million in revenue and 180 employees.

Atena works for the aerospace, automotive and gas turbines industries, with customers like Airbus, Audi, BMW, Bosch and Daimler, EADS, Eurocopter, MTU Aero Engines, Rolls-Royce Siemens PG and ZF Lenksysteme. The projects include BMW Hydrogen 7, Airbus A380, Airbus A400M and the Engine Control Unit of the EJ-200.

According to Singh, the merger will help both the companies move up the value chain. “Our clients are seeking value added services from us. The merger will help us improve our knowledge base,” he pointed out and added that it will also help them in securing more orders from various industries.

Silver Software has been providing engineering solutions to Boeing, Airbus, Lockheed Martin, London Underground, Metro Madrid across the entire software lifecycle.

It is also involved in the development of various components of European Rail Transport Management System (ERTMS).

“The combined skills of Atena and Silver Software will help us improve our service offerings significantly apart from tapping new markets,” Singh said.

28th Feb 2008

Nilgiris set to take control of Valdel Retail:
Nilgiris’ Dairy Farm, controlled by Actis Private Equity, is set to take control over Bangalore-based Valdel Retail over a period of time. Valdel Retail, is a part of the Valdel Group, which has significant interests in engineering and construction.
According to industry sources, the deal is structured over two steps. For starters, the existing 15-odd retail outlets owned by Valdel Retail will be rebranded as Nilgiris’ through a franchisee agreement for a certain period of time.
Post this, Valdel is likely to exit this retailing business in favour of Nilgiris. Valdel Retail manages two brands - ‘Dailys’ for supermarkets and ‘Centra’ for large-format department stores. These stores are located in Bangalore and Mysore.
Spokespersons from both the companies were not available for comments. Nilgiris is a century old retail chain focused on South India. UK-based private equity fund Actis during late 2006 acquired 65 per cent for around Rs 300 crore from the promoters of Nilgiris.
Industry sources further indicate that with this move, Nilgiris gets a boost to its rapid expansion plan which is underway, with a possibility of a Rs 150 crore IPO in due course.
Valdel Group is a breakaway faction from M S Ramaiah Group, a noted business house in Bangalore which has varied interests in healthcare and education. The five year old Valdel Retail in addition to retail had forayed into Business Process Outsourcing business, which also did not build up steam.
Valdel in the engineering business operates two separate JVs with L&T and US-based S&B Engineers & Constructors, offering integrated services to the oil & gas, refinery, petrochemicals and pharmaceutical sector.
In addition to this, Valdel Group has floated an equal joint venture with Unitech for developing shopping malls and hospitality sector. This joint venture is estimated to invest around Rs 200 crore to develop properties over 6 lakh square feet.


28th Feb 2008

Arteria Technologies Award:
Arteria Technologies, a Bengaluru-based SAP NetWeaver services partner, has won the 'Best SAP NetWeaver Process Integration Partner' award for 2007 in APJ (Asia Pacific and Japan geographies). The award has been instituted from this year onwards by SAP to recognise the best partner delivering implementation services based on SAP NetWeaver process integration platform in the region. The award highlights the capabilities, knowledge, best practices and implementation experience Arteria has as a SAP partner.

28th Feb 2008

Ghari sales reach Rs 1,200 crore:

The sale of the Ghari detergent, a product of Kanpur-based Ghari Industries Ltd, will reach Rs 1,200 crore in the current fiscal.
The sale will equal that of other major competitors, Nirma and Wheel — products of Nirma Industries and Hindustan Unilever, respectively.
Although their latest figures are not known, detergent experts in the city believe that both would be above Rs 1,000 crore, in what has become a neck and neck battle between the three.
Moreover, Ghari, now a well-diversified company with stakes in leather and construction besides soap and detergent, has launched its toilet soap. It has strengthened its hold over UP, MP, Bihar and Delhi, where it has emerged as a leader in the popular detergent category. However, it is absent in the four southern states and is weak in the eastern states.
Murlidhar, the company’s chief managing director, said that the company was selling in about 17 states. Our capacity has risen to about 7,00,000 tonnes in the current fiscal and will go up to 9,00,000 tonnes in the next, he added.


Mr. Murlidhar - Chief Managing Director.

28th Feb 2008

Silverline in talks for US buys:
Mumbai-based IT firm Silverline Technologies is in talks with two US firms for acquisitions. The company plans to close at least one deal, in the range of $10- 40 million (Rs 40-160 crore), during this financial year.
Since the start of this calendar year, the firm has announced two acquisitions -- the first the Canada-based contact centre -- OMDR, and the second gave the company an entry into the healthcare segment.
The firms which Silverline plans to acquire now, are expected to help it deliver global services in the enterprise resource planning, middleware and business intelligence segments.
The acquisitions have come as a surprise to stock market analysts. Silverline Technologies was one of the biggest casualties of the dotcom bust of 2001 from among the Indian stock market-listed companies.
The company, which also was the first New York Stock Exchange-listed Indian IT services company when it raised $100 million from US investors in 2000, had hit rock bottom in 2003-04.
All the six dotcom companies it acquired using the American depository receipts funds went bust, and its net worth saw complete depletion. It was forced to close all the US and Indian operations and its shares were delisted from the BSE due to non-reporting of quarterly numbers for six quarters running.
Titus Sequeria, executive director and chief strategy officer, "We have learnt from our mistakes and the biggest difference this time is we know what not to do."
Unlike the last time, the company is not doing all-cash deals. The acquisitions will be all-share deals with an earnout spread over a period of three years based on demonstrated topline and profitability committed at the time of acquisition. The target company should be making profit of at least 10 per cent and have free cash flow.


Mr. Titus Sequeria - Executive Director & Chief Strategy Officer

28th Feb 2008

DE Shaw invests $250 million in HDIL unit:
Mauritius-based hedge fund DE Shaw has made an equity investment of $250 million (Rs 1,000 crore) in Mack Star Marketing, a unit of Mumbai-based Housing Development & Infrastructure (HDIL), a realty developer. The exact extent of the stake picked up by DE Shaw is not known.

Mr. Sunny Wadhawan - Managing Director, HDIL

28th Feb 2008

DSP Merill to invest 35% in BlackRock energy fund:
DSP Merrill Lynch (DSPML) would, for the first time, dip into BlackRock natural resources equity investment team’s expertise. The Indian asset manager has also been allowed to invest up to $200 million in a 'closed' fund managed by it, as an exception.

Mr Anup Maheshwari - Executive Vice-President and head of equities & corporate strategy at
DSPML

28th Feb 2008

CavinKare acquires fruit juicce brand Maa:
Foods to FMCG company CavinKare Pvt Ltd has forayed into the fruit beverage market through the acquisition of a Tamil Nadu-based fruit drink brand Maa.
Maa Fruits Pvt Ltd, for a consideration of Rs 27.6 crore

Mr. C.K. Ranganathan - Chairman and Managing Director, CavinKare
Mr. N E Kumar, Managing Director, - Maa Fruits

28th Feb 2008

HCL signs pact with US-based Chordiant :
HCL Technologies Ltd has entered into a partnership with US-based provider of CRM and decision management solutions, Chordiant Software. Under the agreement, the two would work together to take Chordiant’s Customer Relationship Management (CRM) products to HCL’s customers, and also define new markets to take the solutions to new customers.

Mr. Premkumar S - Corporate Officer & Global Head - Financial Services, HCL Technologies
Mr. Steven R Springsteel - Chairman, CEO & President- Chordiant Software.

28th Feb 2008

Mack Star gets $250-m investment:
Mack Star Marketing Private Ltd, a Wadhawan Group company, has got an equity investment of $250 million from D.E. Shaw Composite Investments (Mauritius) Ltd.
Mack Star is developing a commercial complex at Swami Nityanand Marg, Andheri (East).
Earlier, realty major HDIL had granted development rights for the property to Mack Star for Rs 900 crore.

28th Feb 2008

Shriram Pistons to spend Rs 600 Cr on second facility:
The New Delhi based Shriram Pistons & Rings Ltd (SPRL) intends to spend Rs 600 crore over the next five years in its second manufacturing facility that is coming up at Pathredi in Rajasthan.
The company manufactures pistons, piston rings and engine valves catering to most vehicle and
engine manufacturers in the country.

Mr A.K. Taneja - President

28th Feb 2008

Xindia steel to set up iron ore pellet plant in karnataka:
Xindia Steel Ltd, a new joint venture between two Chinese steel and minerals companies and two Indian groups, announced that they would be investing over Rs 8,000 crore in two phases to set up iron pellatisation and steel plant in India.
Promoted by Xingxing Group of companies, Chinese National Metals Products, a part of the $19 billion China Minmetals Corporation along with its Indian partners, Kelachandra Group and Sigma Minmet Ltd, will produce two million tonnes (mt) of iron ore pellets in a plant to be set up in Koppal in north Karnataka. The Chinese investors will hold the controlling take of 55 per cent in the venture.

Mr. Gopi Ramanathan - Director

28th Feb 2008

Sai Info to invest Rs. 200 crr in 3 years on Expansion:
Sai InfoSystem (India) Ltd(SIS), which is investing Rs. 200 crore in the next three years on expansion plans,

Mr. Sunil Kakkad - Managing Director And Chairman
25th Feb 2008

Ambuja to buy 3 Cargo ships:

Ambuja cement is expanding its cargo fleet by adding three ships by next year for an investment of Rs. 150 crore

Mr. A L Kapur - Managing Director
25th Feb 2008

Mindtree to begin work on Orissa Centre:
IT Consulting firm MindTree Consulting would start construction of its proposed development centre from April. Mindtree had proposed to invest nearly 200 crs for the project.

25th Feb 2008

Adventity to open Chennai BPO facility:

Adventity, a business process outsourcing firm with focus on the financial services, The company has invested $8 million in the facility which would employ about 2000 persons in the next 12 months.

Mr. Kumar Subramanian - CEO

25th Feb 2008

Sintex Inds plans Rs 1800 cr expansion:

Gujarat based Sintex Industries Ltd plans to pump in about Rs. 1800 cr over the next three years for expansion of its various units.

Mr. Amit Patel - MD

Dated: 21st Feb 2008

Sumeet to invest Rs. 125 crore:
Surat based Sumeet Industries, producer of polyester yarn, woven fabric and menthol, has chalked out a backward integration and expansion plan involving an investment of Rs. 125 cr.

Dated: 21st Feb 2008

Parryware Roca plans Rs. 170 cr expansions:

Sanitaryware and bath accessories manufacturer Parryware Roca plans to invest Rs. 170 crore in the next 2-3 years to expand its production and enhance its marketing and distribution channels.

Mr. K E Ranganathan - Managing Director

Date: 21st Feb 2008

Bombay Dyeing to invest Rs. 40 cr for retail:
Bombay Dyeing will invest Rs. 40 crore to open a chain of 100 company managed showrooms over the next two three years.

Mr. S K Gupta - Executive Director

Dated: 21st Feb 2008

Alchemist Realty to invest Rs.5000 Cr:

Real estate firm Alchemist Realty will invest over Rs. 5000 Cr in the next 7 to 10 years for developing a land bank of 10,600 acres.

Mr. Pran Khanna - CEO

Dated: 21st Feb 2008

Zodiac set to launch new brand:
Zodiac clothing is planning to launch a brand for the domestic market soon. The company plans to target urban consumers in the age group of 30-35 years with the new launch.

Mr. Anees Noorani - Vice Chairman and Managing Director

Dated: 21st Feb 2008

LG to invest Rs 360 Cr to boost product sales:

LG Electronics planning to invest Rs. 360 crore in India on brand building and other marketing initiatives this year to help it gain market leadership. The company reportedly spent about Rs, 320 crore on marketing in 2007.

Mr. Moon Bum Shin- Managing Director

Dated: 21st Feb 2008

Sun Pharma buys 9% more in Taro:
Sun Pharmaceutical Industries, India's biggest drugmaker by market value, has acquired 9.4 percent stake in Israel's Taro Pharmaceutical Industries for $38 million, raising its total holding to 34.4 percent.

Dated: 21st Feb 2008

TCS in $120 mn Chrysler deal:
It major Tata Consultancy Services (TCS) has signed a multi-year contract worth $120 million(around 480 crore) with US automaker Chrysler.

N. Chandrasekaran - Executive Director and COO
Dated: 21st Feb 2008

Toshiba to buy Sony's chip ops for $835 m:

Japan's Toshiba said Wednesday it had agreed to pay $835 million for Sony's high-performance semiconductor operations,

Dated: 21st Feb 2008

Metrocorp charts $750-m realty play:

Real eatate firm Metrocorp is set to expand its footprint pan-India. The Bangalore based company, that currently has two projects in the south, plants to invest $750 million (about Rs. 3000 crore) over the next one year to develop residential real estate and integrated townships across key makers.

Mr. Deepak Krishnappa - Chairman & CEO

Dated: 21st Feb 2008

IBS Plans Rs. 200 Cr capital Expenditure:
IBS, the Kerala - headquartered IT solutions firm, has scripted a Rs. 200 Crore capital expenditure plan in the next couple of years.

Mr. V. K. Mathews - CEO
Dated: 21st Feb 2008

JC Valves to set up Rs. 350 Crore casting unit:
Sharjah-Based Emirates Techno Casting(ETC) is planning to bring vacuum technology castings to India for the first time. The Rs. 600-cr ETC is setting up a manufacturing unit in Mahindra City, near Chennai, through JC Valves, a subsidiary of the Spain based JC Fabrica de valvulas sa (JCFF). For the year ending Dec 07, JC Valves turnover was over 50 million.
Mr. Faizal - President, who is also ETC founder president and CEO.

Dated: 14th Feb 08

Corporates are waking up to fitness needs:
Fitness, as an industry, has to grow and the people of our nation can benefit from it, but it can only be done with the help of the government, corporates and increasing awareness through the media, says Mr P. Vivekanand, Managing Director, FitnessOne.
http://www.thehindubusinessline.com/2008/02/13/stories/2008021350070900.htm

Dated: 13th Feb 2008

Galla Foods to enter fruit beverage segment:

Galla Foods Pvt Ltd, owned by the promoter family of the Rs. 600 crore, Amara Raja Batteries Ltd, is set to foray into the fruit beverage segment with mango nectar soon.

Mr. Ramachandra N - Chairman

Dated: 13th Feb 2008

GlobalLogic to expand footprint, eyes new verticals:
Product Development Company GlobalLogic's roadmap includes expanding in global markets, offerings to service new verticals and a target of $500 million by 2011.
Mr. Mukul Jain - COO.

Archidply to have plant in Kolar District:

Archidply Industries Ltd, which manufactures products like plywood, block board, particle board, decorative laminates and decorative veneers, has chalked out a capital expenditure plan of Rs. 79 crore to set up a new plant and also expand the capacity of its existing plant at Rudrapur in Uttarakhand. The firm is now setting up a greenfield project for manufacturing particle board in Chintamani in Karnataka. It plans to invest Rs. 37 crore on the project.

Mr. Deen Dayal Daga - CMD & CEO

Mr. Shyam Daga - Joint Managing Director and CFO.

Dated: 13th feb 2008

MPP Tech opens Tumkur unit:

MPP Technologies Pvt Ltd, (MPP), a Bangalore based sheet metal fabricator, has set up a plant at Tumkur, about 75 km from Bangalore, to manufacture Fin-Wall Corrugated tanks, used in power distribution. The Company has invested Rs. 14 Crore which includes a contribution of Rs. 2.5 crore from Crompton Greaves.

Dated: 13th Feb 2008

Looking for Franchisees to expand:

FlexiWorks, part of the Singapore based Works Alliance Group and on e of the fastest growing staffing organisations has embarked on a massive expansion programme across the country.

Dated: 13th Feb 2008

Wheezal in expansion mode:
Wheezal Laboratories Pvt Ltd, one of India's leading homeopathic companies, is expanding business by setting up a manufacturing facility in Dehra Dun and looking for business in Europe and other foreign countries.

Mr. Sunny Gupta - Director
dated: 13th Feb 2008

India Call Centre revenues to touch Rs. 8500 Crores:

Dated: 13th Feb 2008.

Nutek to raise Rs. 100 Crore:
Telecom infrastructure solutions provider Nutek India said it would tap the capital market to raise Rs. 100 crore to fund acquisitions and expand its presence overseas.
Mr. Vineet Sirpaul - Nutek India Director

Dated: 13th Feb 2008

ETA to launch airline in India:
The Emirates Trading Agency-Associated Construction(ETA-Ascon), a conglomerate of the United Arab Emirates(UAE) will launch a new regional airline in India in October.

Mr. Syed Salahuddin - Managing Director

Dated: 11th Feb 2008

Kesoram setting up ancillary units on surplus land in Bengal.
B K Birla group company, Kesoram Industries plans to set up ancillary units on the surplus land at its various facilities in West Bengal,
Kesoram had already put in place a Rs. 1265 Crore expansion programme for its cement and tyre units. Its cement plant capacity at Gulbarga in Karnataka would be expanded from 3.6 mtpa to 5.2 mtpa

Mr. S.K. Parik-Director of Kesoram Industries.

Dated: 11th Feb 2008

Suzlon arm sets up foundry in Tamil Nadu, SEForge, an associate company of the wind power major Suzlon Energy, has set up a ductile iron casting foundry at Coimbatore in Tamil Nadu.

Hugo L Schipmann - Execuvite Director, SEForge Ltd

Dated: 10th Feb 2008

The Financial Express

M & M spreads wings in education sector

JM Finance 4-fold jump in foreign equity in realty fund

Mirchi Movies to foray into southern market

Arvind to launch MBO format for global brands