Gati forms jt venture with Japanse co Kintetsu

Coimbatore: Distribution and supply chain solution company Gati Ltd has tied up with Kintetsu World Express (KWE) of Japan to form Gati-Kintetsu Express Pvt Ltd (Gati-KWE).

While Gati would hold 70 per cent stake in the joint venture, the Japanese partner would hold the rest.

Kintetsu World Express has invested Rs 267.7 crore for its 30 per cent stake, which has been approved by the Foreign Investment Promotion Board (FIPB).

Gati said the fund infusion would improve its balance sheet and help reduce the interest outgo.

It hopes that the joint venture would enable “seamless transfer’’ for cross border trade through single window solution to its clients such as Texas Instruments, HP, Panasonic and Toshiba.

HP bags $2.5bn NASA contract

Technology company Hewlett-Packard says it has been awarded a multi-year contract worth up to $2.5 billion to provide technology services to NASA.

Hewlett-Packard Co said the contract has a four-year base period with two additional three-year option periods.

The deal is the latest sign of an economic recovery and a pickup in government spending.

HP says it will provide personal computing services so that NASA employees can collaborate more easily in a secure computing environment.
The company says it will provide computing services and devices to more than 60,000 users as part of the deal. It will modernize the space agency's computer systems used by employees.