CHENNAI: Auto component manufacturer Rane Group today said it was looking at diversifying into defence and aerospace, considering the huge potential in the sector.
"There is a good opportunity because of private participation in defence and aerospace industry. We feel some synergy in this field," L Ganesh, chairman of Rane Group, which is celebrating the Platinum Jubilee, told reporters.
Noting that the Group has recently tied up with Bangalore based Sasmos for the purpose, he said: "We have just made an entry looking at the opportunities".
However, he said the main focus of the USD 500 million Group would be on the automotive sector, which grew at the rate of 10 to 12 per cent in the last decade.
"We should be able to grow faster. Several new products are under development", he said.
On the exports trend, Ganesh said the Group saw a 15 per cent growth last year and would like to achieve a growth of 20 to 25 per cent in the next three years.
Chairman of Rane Holdings Limited L Lakshman said the company hoped the industry would grow 15 per cent in the coming year looking at export avenues and accelerated growth.
He, however, admitted that spending on Research and Development was slow in the company and efforts were on increase it to 1.5 per cent to 2 per cent.
Success in my Habit
Thursday, December 29, 2011
Briedgetsone opens concept store in Pune for tyre sales
Bridgestone, the world's leading tyre and rubber manufacturer, inaugurated its first Concept Store in Pune. The concept store aims to change the tyre buying experience while building a retail identity for the tyre maker.
The global player, which is in the process of setting up its second manufacturing plant near Pune, will add more concept stores across the country.
H. Mori, director sales and marketing, Bridgestone India Pvt. Ltd said, "The concept store is a unique retail concept which we are introducing as a part of our aggressive expansion strategy. This initiative will add a new dimension to the retailing of tyres in the region through our unique business model of environment friendly, safety and reliability norms that will be adhered to through our direct and indirect business operations. The concept store besides having our complete product range and services will offer a new experience in tyre buying for the customers."
The global player, which is in the process of setting up its second manufacturing plant near Pune, will add more concept stores across the country.
H. Mori, director sales and marketing, Bridgestone India Pvt. Ltd said, "The concept store is a unique retail concept which we are introducing as a part of our aggressive expansion strategy. This initiative will add a new dimension to the retailing of tyres in the region through our unique business model of environment friendly, safety and reliability norms that will be adhered to through our direct and indirect business operations. The concept store besides having our complete product range and services will offer a new experience in tyre buying for the customers."
Allow foreign helmets: Harley Davidson owners of Mumbai
MUMBAI: Harley Davidson owners have appealed to the Mumbai traffic police to recognize helmets with American Department of Transportation (DOT) and Australian certification logos.
Last month, Mumbai police commissioner Arup Patnaik had instructed the traffic department to fine all bikers wearing helmets without the ISI certification mark. Police booked hundreds, including owners of foreign bikes who wear helmets certified by Australian, Italian and American authorities. "The purpose of the police commissioner's directive was to send a strong message to those using cheap plastic helmets . But the cops carrying out the order have failed to understand that helmets certified by the DOT are among the safest in the world," said Debashish Ghosh, owner of a Harley Davidson bike.
Vijay Jain of Wheelieboy Adventure India Ltd said, "We appreciate the traffic department's initiative to make sure people use ISI-certified helmets, but we are looking for a slightly higher standard as our bikes are more powerful and expensive. Our helmets are more reliable and have undergone stringent tests."
Ever since the police began the drive, some bikers who use cheap helmets have managed to hoodwink them by painting or sticking ISI logos on their helmets. "Traffic constables are fining us for helmets with a DOT logo but they are unable to decipher forged ones," said Monit Pahwa. Another bike enthusiast, Freddy Pithavala, said, "I would rather pay a Rs 100 fine to a traffic cop than wear an ISI helmet and risk my life." The Harley Davidson Owners' Association members met the DCP (traffic) Brijesh Singh, said Ghosh. DCP Singh said, "We have received the application for recognizing those helmets. I have forwarded the same to the transport department, which is the competent authority to take an appropriate decision."
ISI-mark helmets: ISI-mark helmets adhere to the standards laid down by the Bureau of Indian Standards. According to these, the shell of the helmet is required to be of non-metallic material. The retention system material for the chin strap and headband has to be sweat-resistant, non-irritant and not cause skin disease. These helmets, conditioned by solvents, ultra-violet, heat and cold, are tested for impact absorption.
DOT rating: The American Department of Transportation (DOT) rating is based on dropping the helmets from a height of ten feet. A stimulated head is placed inside the helmet to measure the degree of impact. The head cannot receive more than 400 G-force units on impact.
Last month, Mumbai police commissioner Arup Patnaik had instructed the traffic department to fine all bikers wearing helmets without the ISI certification mark. Police booked hundreds, including owners of foreign bikes who wear helmets certified by Australian, Italian and American authorities. "The purpose of the police commissioner's directive was to send a strong message to those using cheap plastic helmets . But the cops carrying out the order have failed to understand that helmets certified by the DOT are among the safest in the world," said Debashish Ghosh, owner of a Harley Davidson bike.
Vijay Jain of Wheelieboy Adventure India Ltd said, "We appreciate the traffic department's initiative to make sure people use ISI-certified helmets, but we are looking for a slightly higher standard as our bikes are more powerful and expensive. Our helmets are more reliable and have undergone stringent tests."
Ever since the police began the drive, some bikers who use cheap helmets have managed to hoodwink them by painting or sticking ISI logos on their helmets. "Traffic constables are fining us for helmets with a DOT logo but they are unable to decipher forged ones," said Monit Pahwa. Another bike enthusiast, Freddy Pithavala, said, "I would rather pay a Rs 100 fine to a traffic cop than wear an ISI helmet and risk my life." The Harley Davidson Owners' Association members met the DCP (traffic) Brijesh Singh, said Ghosh. DCP Singh said, "We have received the application for recognizing those helmets. I have forwarded the same to the transport department, which is the competent authority to take an appropriate decision."
ISI-mark helmets: ISI-mark helmets adhere to the standards laid down by the Bureau of Indian Standards. According to these, the shell of the helmet is required to be of non-metallic material. The retention system material for the chin strap and headband has to be sweat-resistant, non-irritant and not cause skin disease. These helmets, conditioned by solvents, ultra-violet, heat and cold, are tested for impact absorption.
DOT rating: The American Department of Transportation (DOT) rating is based on dropping the helmets from a height of ten feet. A stimulated head is placed inside the helmet to measure the degree of impact. The head cannot receive more than 400 G-force units on impact.
Cosma Magna to set up Rs. 300 cr greenfield plant at Talegaon
The auto component manufacturer is part of the Canadian major Magna International and already has a presence in the Pune region, where some of its customers are located.
The greenfield facility will come up within a year, industry department officials confirmed to The ET. The 29 acre plot of land where this plant will come up has been sold to the Canadian company byZF Steering Gear India for Rs. 47 crore.
ZF Steering, a Rs. 298 crore joint venture with ZF Lensksysteme for the manufacture of mechanical and hydraulic powered steering gears for the automotive sector, had acquired the land in the Talegaon industrial area for its proposed expansion.
Dinesh Munot, chairman and managing director, ZF Steering, explained that the sale has been effected since these are uncertain times. ""We don't need to invest now in these times of uncertainty. Industry is going through a dull phase and future growth is uncertain,"" he said, explaining why they have sold off the land.
This plot would have housed expansion of the steering gear capacity for the JV which would have added to its existing plant at Vadu, about 25 kms from Pune on the road to Ahmednagar.
Talegaon and its neighbouring industrial areas of Pune, Chakan and Ranjangaon is auto-focused hub, home to domestic and international auto manufacturers and an auto component eco system. Among the companies in this region are Tata Motors, Bajaj Auto, Force Motors, Fiat, Volkswagen, General Motors and Foton along with off road equipment manufacturers JCB, John Deere, Hyundai and Sany. The two big Chinese OEMs are located here, namely Foton and Sany.
The greenfield facility will come up within a year, industry department officials confirmed to The ET. The 29 acre plot of land where this plant will come up has been sold to the Canadian company byZF Steering Gear India for Rs. 47 crore.
ZF Steering, a Rs. 298 crore joint venture with ZF Lensksysteme for the manufacture of mechanical and hydraulic powered steering gears for the automotive sector, had acquired the land in the Talegaon industrial area for its proposed expansion.
Dinesh Munot, chairman and managing director, ZF Steering, explained that the sale has been effected since these are uncertain times. ""We don't need to invest now in these times of uncertainty. Industry is going through a dull phase and future growth is uncertain,"" he said, explaining why they have sold off the land.
This plot would have housed expansion of the steering gear capacity for the JV which would have added to its existing plant at Vadu, about 25 kms from Pune on the road to Ahmednagar.
Talegaon and its neighbouring industrial areas of Pune, Chakan and Ranjangaon is auto-focused hub, home to domestic and international auto manufacturers and an auto component eco system. Among the companies in this region are Tata Motors, Bajaj Auto, Force Motors, Fiat, Volkswagen, General Motors and Foton along with off road equipment manufacturers JCB, John Deere, Hyundai and Sany. The two big Chinese OEMs are located here, namely Foton and Sany.
Google+ Users Estimated at 62 Million
An enthusiastic Paul Allen (not the Paul Allen of Microsoft fame, but founder of Ancestry.com) predicts continued adoption of Google+, the social network which launched earlier this year, saying that it is on track to reach 100 million users by the end of February 2012. Allen penned this forecast as part of a post on Google+, where he also released an independent estimate that the site now has 62 million users worldwide.
Allen, whose verified name on Google+ lists him as founder of Ancestry.com and "unofficial Google+ statistician," has reportedly been tracking the number of new users who sign up for Google+ and adjusting how he and his team count when Google releases official statements on the number of members. On October 1, Allen says his estimates pointed to about 38 million users; not two weeks later on October 13, Google pronounced the figure at more than 40 million.
Allen, whose verified name on Google+ lists him as founder of Ancestry.com and "unofficial Google+ statistician," has reportedly been tracking the number of new users who sign up for Google+ and adjusting how he and his team count when Google releases official statements on the number of members. On October 1, Allen says his estimates pointed to about 38 million users; not two weeks later on October 13, Google pronounced the figure at more than 40 million.
RIM offers over 50% discount on PlayBook tablets in India
Canadian BlackBerry maker Research in Motion ( RIM), battling tough competition from Apple's iPad, is offering over 50 percent discount on its PlayBook tablets under a limited festive season offer till Dec 31.
A company spokesperson Wednesday said the 16 GB model of the PlayBook can be bought for Rs 13,490 in the Indian market instead of its regular price of Rs 27,990.
While the 32 GB model is available for Rs 15,990, the 64 GB model is being offered for Rs 24,490 against their regular prices of Rs 32,990 and Rs 37,990 respectively.
The smartphone maker has been struggling to gain significant market share since April when it launched the tablets. It has been able to sell 800,000 units of the device globally in the first nine months of financial year 2011-12.
In comparison, Apple has sold over 11 million iPads globally during the quarter ended September.
A company spokesperson Wednesday said the 16 GB model of the PlayBook can be bought for Rs 13,490 in the Indian market instead of its regular price of Rs 27,990.
While the 32 GB model is available for Rs 15,990, the 64 GB model is being offered for Rs 24,490 against their regular prices of Rs 32,990 and Rs 37,990 respectively.
The smartphone maker has been struggling to gain significant market share since April when it launched the tablets. It has been able to sell 800,000 units of the device globally in the first nine months of financial year 2011-12.
In comparison, Apple has sold over 11 million iPads globally during the quarter ended September.
Wednesday, December 28, 2011
Tata Power to buy BP Alternative Energy Holdings' 51% stake in Tata BP Solar
Mumbai: Tata Power Company is in pact to buy BP Alternative Energy Holdings' 51% stake and preference shares in their joint venture Tata BP Solar India, the Tata group power utility informed bourses Tuesday.
Post acquisition, Tata Power would own 100% in the solar power company.
"Tata Power and BP have agreed that the company will continue to enjoy access to certain BP technology until 2013. The company and BP will enter into a technology agreement to give effect to this understanding," the company said in a statement to the bourses.
The stake sale is a part of BP's decision to exit solar business over the next few months because it has become unprofitable. Responding to media reports, Tata BP Solar's Chief Executive Officer K Subramanya had said earlier, "Tata BP Solar is not impacted by the decision of BP to gradually exit solar business and that it's business as usual."
An ET query to Tata Power on the deal size remained unanswered.
"To provide for a smooth transition in respect of branding and fulfillment of re-certification requirements for solar photovoltaic modules, Tata Power and BP have agreed or a transition period for product and non-product related re-branding and certification," the Tata Power statement said.
Post acquisition, Tata Power would own 100% in the solar power company.
"Tata Power and BP have agreed that the company will continue to enjoy access to certain BP technology until 2013. The company and BP will enter into a technology agreement to give effect to this understanding," the company said in a statement to the bourses.
The stake sale is a part of BP's decision to exit solar business over the next few months because it has become unprofitable. Responding to media reports, Tata BP Solar's Chief Executive Officer K Subramanya had said earlier, "Tata BP Solar is not impacted by the decision of BP to gradually exit solar business and that it's business as usual."
An ET query to Tata Power on the deal size remained unanswered.
"To provide for a smooth transition in respect of branding and fulfillment of re-certification requirements for solar photovoltaic modules, Tata Power and BP have agreed or a transition period for product and non-product related re-branding and certification," the Tata Power statement said.
Infosys BPO to expand in China
Bangalore: Infosys BPO, the business processing outsourcing arm of Infosys, the country’s second-largest exporter of information technology services, is setting up a new centre in Dalian, China, with a 500-person capacity, Swaminathan D, the managing director and CEO of Infosys BPO told Business Standard.
Infosys established its first BPO centre in China in 2006. Located in Hangzhou, it employs 1,000 people. “We plan to offer back office support from Dalian as an additional location in China. We believe it is easy to get enough talents in Dalian who are good at managing the Japanese and Korean processes, other than Chinese and English,” said Swaminathan.
He says a reason Infosys is seeing a lot more BPO opportunities in China is that a large number of global clients are having operations in the country. “Thus, we look at locations which provide strategic and competitive advantage to our clients as a part of our location strategy. Besides, it enables us to extend or expand our talent pool,” he added.
Infosys, the parent company, is already establishing its own campus in Shanghai, with a proposed investment of $125-150 million. Its first outside of India, the proposed centre is to be located at Zizhu Science and Technology Park and can accommodate about 8,000 employees. Infosys presently employs 3,300 people in China.
“China offers a compelling regional language advantage and cost arbitrage, and is thus best leveraged to serve the Asia region, which accounts for about 60 per cent of China’s global sourcing revenues,” said Amneet Singh, vice-president, global sourcing, Everest Group.
He said the lack of clear costs and English language skills translate to a limited competitive advantage over India and the Philippines for work exported to North America and Europe, but “these regions still account for about 40 per cent of China’s global sourcing exports”.
At least 15 delivery centres were established by IT and BPO companies across tier-I and tier-II cities in China during the past 12 months.
Other than China, Infosys BPO is looking at setting up a centre in Manila, Philippines. This is expected to add about 700 people to the 1,000 in China, said Swaminathan. The centre is expected to be operational towards February. The MD said the Philippines was predominantly focused on customer services (voice-based BPO) but was also slowly moving into high-value back office works in areas like finance and accounting (F&A).
“Today, for instance, F&A talents are available in India. But when I look for larger numbers, it becomes challenging. Now I am able to do that in Manila as well, as it has got over 100,000 certified accountants. I can hire them at will,” said Swaminathan.
Adding, however, that in terms of intensity of works and other quality parameters, the Philippines is still far away from India’s.
Infosys BPO employs about 20,600 people across 12 centres, including seven outside India. In the year ended March 31, 2011, it BPO closed with revenue of $427 million.
Infosys established its first BPO centre in China in 2006. Located in Hangzhou, it employs 1,000 people. “We plan to offer back office support from Dalian as an additional location in China. We believe it is easy to get enough talents in Dalian who are good at managing the Japanese and Korean processes, other than Chinese and English,” said Swaminathan.
He says a reason Infosys is seeing a lot more BPO opportunities in China is that a large number of global clients are having operations in the country. “Thus, we look at locations which provide strategic and competitive advantage to our clients as a part of our location strategy. Besides, it enables us to extend or expand our talent pool,” he added.
Infosys, the parent company, is already establishing its own campus in Shanghai, with a proposed investment of $125-150 million. Its first outside of India, the proposed centre is to be located at Zizhu Science and Technology Park and can accommodate about 8,000 employees. Infosys presently employs 3,300 people in China.
“China offers a compelling regional language advantage and cost arbitrage, and is thus best leveraged to serve the Asia region, which accounts for about 60 per cent of China’s global sourcing revenues,” said Amneet Singh, vice-president, global sourcing, Everest Group.
He said the lack of clear costs and English language skills translate to a limited competitive advantage over India and the Philippines for work exported to North America and Europe, but “these regions still account for about 40 per cent of China’s global sourcing exports”.
At least 15 delivery centres were established by IT and BPO companies across tier-I and tier-II cities in China during the past 12 months.
Other than China, Infosys BPO is looking at setting up a centre in Manila, Philippines. This is expected to add about 700 people to the 1,000 in China, said Swaminathan. The centre is expected to be operational towards February. The MD said the Philippines was predominantly focused on customer services (voice-based BPO) but was also slowly moving into high-value back office works in areas like finance and accounting (F&A).
“Today, for instance, F&A talents are available in India. But when I look for larger numbers, it becomes challenging. Now I am able to do that in Manila as well, as it has got over 100,000 certified accountants. I can hire them at will,” said Swaminathan.
Adding, however, that in terms of intensity of works and other quality parameters, the Philippines is still far away from India’s.
Infosys BPO employs about 20,600 people across 12 centres, including seven outside India. In the year ended March 31, 2011, it BPO closed with revenue of $427 million.
Google India unveils search format for ads
Bangalore: Google India on Tuesday unveiled a new format for media advertisements to target, pay for and experience video ads on its Web search engine.
“The new ads format is designed to ensure users find the information they are looking for and enable advertisers to reach potential customers with the right information,” Google India sales head, Mr Praveen Sharma, said in a statement here.
As a standalone format designed to put video ads front and centre, the search target is automated.
“The format is launched with Star TV campaign built around its new channel Life OK. The media and entertainment category search volumes have shown phenomenal growth. In the last two years, the query volumes have grown at 125 per cent year-on-year,” Mr Sharma said.
“Our research has shown that a substantial number of users are looking to watch the movie trailer or TV show clips on the search results page, which translates into a high response rate for this ad format,” Mr Sharma noted.
“The new ads format is designed to ensure users find the information they are looking for and enable advertisers to reach potential customers with the right information,” Google India sales head, Mr Praveen Sharma, said in a statement here.
As a standalone format designed to put video ads front and centre, the search target is automated.
“The format is launched with Star TV campaign built around its new channel Life OK. The media and entertainment category search volumes have shown phenomenal growth. In the last two years, the query volumes have grown at 125 per cent year-on-year,” Mr Sharma said.
“Our research has shown that a substantial number of users are looking to watch the movie trailer or TV show clips on the search results page, which translates into a high response rate for this ad format,” Mr Sharma noted.
Tuesday, December 27, 2011
Havells in $50-m lighting venture with Shanghai Yaming
New Delhi: Electrical equipment manufacturer Havells India has formed a 50:50 joint venture with China's Shanghai Yaming Lighting Company Ltd to set up a lighting products unit in China.
The venture, named Jiangsu Havells Sylvania Lighting Co, will invest $50 million and target annual revenue of $100 million in next three years, the company said on Monday.
Havells' Joint Managing Director, Mr Anil Gupta, said the plant is slated to begin production by April.
The venture will produce energy-efficient and green lighting products for the Chinese and international markets.
Havells, which gets half its revenue from Germany's SLI Sylvania (acquired in 2007), said in July that it was looking for a joint venture partner in China to boost sales and set up a manufacturing facility.
More viable
“Manufacturing in China is commercially more viable,” Mr Gupta said in explaining the reason for setting up the joint venture. Shanghai Yaming Lighting Co, a unit of Shanghai Feilo Acoustics, makes various types of lamps and lighting products in China, Japan, Belgium and the US.
The joint venture, Havells said in a statement, would facilitate constant innovation and quicker product releases in international markets, including a co-owned, reliable and stable supply source in China. Havells already exports products to China, generating $5-6 million of revenue a year.
The company has 12 plants in India and six overseas. The initial investment will be funded internally, although the joint venture may consider a debt issue in China later as it scales up production, Mr Gupta said.
The venture, named Jiangsu Havells Sylvania Lighting Co, will invest $50 million and target annual revenue of $100 million in next three years, the company said on Monday.
Havells' Joint Managing Director, Mr Anil Gupta, said the plant is slated to begin production by April.
The venture will produce energy-efficient and green lighting products for the Chinese and international markets.
Havells, which gets half its revenue from Germany's SLI Sylvania (acquired in 2007), said in July that it was looking for a joint venture partner in China to boost sales and set up a manufacturing facility.
More viable
“Manufacturing in China is commercially more viable,” Mr Gupta said in explaining the reason for setting up the joint venture. Shanghai Yaming Lighting Co, a unit of Shanghai Feilo Acoustics, makes various types of lamps and lighting products in China, Japan, Belgium and the US.
The joint venture, Havells said in a statement, would facilitate constant innovation and quicker product releases in international markets, including a co-owned, reliable and stable supply source in China. Havells already exports products to China, generating $5-6 million of revenue a year.
The company has 12 plants in India and six overseas. The initial investment will be funded internally, although the joint venture may consider a debt issue in China later as it scales up production, Mr Gupta said.
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