Mumbai:To introduce a super premium edible oil brand which Indian consumers have never witnessed, Ruchi Soya Industries, India’s leading food and agro-based FMCG player, has inked a joint venture with J-Oil Mills Inc and Toyota Tsusho Corporation (TTC), both from Japan.
Under the terms of agreement, a joint venture company would be formed soon by the probable name of Ruchi J-Oil in which Ruchi Soya would have a majority stake of 51%. While J-Oil, the technology partner in the joint venture, would have 26% stake with the remaining 23% proposed to rest with TTC.
“This alliance is an important step towards our business strategy of expanding our product portfolio by bringing value added and healthier products. We will provide raw materials and necessary marketing and distribution assistance to the JV. J-Oil will provide technical assistance and TTC with its rich global experience will provide management assistance for internal control and access to international markets through its network,” said Dinesh Shahra, Founder and Managing Director, Ruchi Soya.
In the joint venture, however, Ruchi Soya would look into manufacturing, branding sales and distribution with the company’s existing expertise in these areas. For this, however, Ruchi would transfer its existing soya processing business in Shujalpur in Madhya Pradesh to the joint venture to fetch Rs 40 crore.
The objective of this joint venture unit would be to introduce new edible oil for Indian market which local consumers have experienced in the past, a Ruchi Soya official said.
The JV will be managed by a board consisting of representatives from all the three companies. The JV plans to start supplying products to the institutional customers by the end of 2013 and launch high quality consumer products for the Indian markets in the second half of 2014.
Justifying the need of such joint venture, Sumikazu Umeda, President & CEO, J-Oil Mills, said, “The main purpose of this investment is to start our first ever business activity overseas in a promising country like India. J-Oil sees India as a vast and fast growing market and has plans to establish as a leading company in high quality value added edible oil segment.”
"Ruchi J-Oil JV provides us appropriate crossover opportunity to leverage our business networks, product portfolios, and skill sets. We create Global Vision 2020 in which we identified three business areas that we expect sustainable growth. We aim to expand food business in life and community field,” said Yoshiki Miura, Managing Director, TTC.
Success in my Habit
Friday, June 7, 2013
Amazon clicks into Indian online marketplace
New Delhi: Amazon, the world’s largest online retail company, has entered the Indian e-commerce space, promising low price for users and a better platform for sellers. India is the tenth market where Amazon has launched a country-specific retail Web site.
But unlike Amazon sites in other countries, the Indian venture is limited to third-party sellers. Amazon will not sell its own inventory due to foreign direct investment (FDI) regulations prohibiting foreign retailers from selling their own products online.
To start with, consumers will be able to buy books, movies and TV shows. Amazon.in will introduce additional categories including mobile phones and cameras in the coming weeks. On Day 1, the book store featured over seven million print books across 200 plus categories while the video store featured a collection of over 12,000 titles in English and Hindi.
While Amazon has not previously had a branded presence in India, in February 2012, it made its foray into the Indian market with the launch of Junglee.com, which connects buyers with online and offline retailers but with no sales transactions.
Real challenges
The launch of Amazon.in comes at a time when other e-commerce sites in the country have not been doing well. There are challenges including customer suspicion towards the quality of products sold online and lack of trust in payment mechanism.
Amit Agarwal, Vice-President, International Expansion, Amazon.com, told Business Line that while these challenges are real, other markets have shown similar trends at the nascent stage. “When you make your investment decision with a timeframe of 10 years then these things do not matter,” he said. From the consumer point of view, Amazon offers a platform that is aimed at offering a low price on any product by allowing sellers to compete.
For the seller, Amazon is offering unlimited shelf space with no listing fees. “From packaging to taxation to delivery logistics we are offering all of it in a simple package to sellers,” said Agarwal.
Pan-INDIA REACH
“Selling on Amazon presents an exciting opportunity as it opens up a new sales channel with pan-India reach at virtually no investment,” said M. S. Jaya Prakash, Proprietor, EducationSupplies. “Prior to this, I did not sell online and was apprehensive about how to fulfil online orders in a timely manner, handle customer service and manage returns.”
But unlike Amazon sites in other countries, the Indian venture is limited to third-party sellers. Amazon will not sell its own inventory due to foreign direct investment (FDI) regulations prohibiting foreign retailers from selling their own products online.
To start with, consumers will be able to buy books, movies and TV shows. Amazon.in will introduce additional categories including mobile phones and cameras in the coming weeks. On Day 1, the book store featured over seven million print books across 200 plus categories while the video store featured a collection of over 12,000 titles in English and Hindi.
While Amazon has not previously had a branded presence in India, in February 2012, it made its foray into the Indian market with the launch of Junglee.com, which connects buyers with online and offline retailers but with no sales transactions.
Real challenges
The launch of Amazon.in comes at a time when other e-commerce sites in the country have not been doing well. There are challenges including customer suspicion towards the quality of products sold online and lack of trust in payment mechanism.
Amit Agarwal, Vice-President, International Expansion, Amazon.com, told Business Line that while these challenges are real, other markets have shown similar trends at the nascent stage. “When you make your investment decision with a timeframe of 10 years then these things do not matter,” he said. From the consumer point of view, Amazon offers a platform that is aimed at offering a low price on any product by allowing sellers to compete.
For the seller, Amazon is offering unlimited shelf space with no listing fees. “From packaging to taxation to delivery logistics we are offering all of it in a simple package to sellers,” said Agarwal.
Pan-INDIA REACH
“Selling on Amazon presents an exciting opportunity as it opens up a new sales channel with pan-India reach at virtually no investment,” said M. S. Jaya Prakash, Proprietor, EducationSupplies. “Prior to this, I did not sell online and was apprehensive about how to fulfil online orders in a timely manner, handle customer service and manage returns.”
TCS, Cognizant bag mega deal from UK Rail
Mumbai:UK's Network Rail has given out IT outsourcing deals worth £360 million to Tata Consultancy Services (TCS), Cognizant Technology Solutions and three other multinational companies as it prepares to work with a smaller set of technology vendors.
The five ‘framework agreements’ will enable Network Rail, which owns and operates Britain's railway infrastructure, in ‘simplifying its computing relationships’ with over 270 individual IT suppliers, according to a press statement from the London-headquartered company.
The five ‘framework agreements’ will enable Network Rail, which owns and operates Britain's railway infrastructure, in ‘simplifying its computing relationships’ with over 270 individual IT suppliers, according to a press statement from the London-headquartered company.
UK to double trade with India
Kochi: The United Kingdom (UK) is attempting to double its trade with India by 2015, said Eric Pickles, British cabinet minister for communities and local government.
Pickles, who is leading a 20-member business delegation, was talking in Kochi on Wednesday in a seminar on UK-built environment expertise. The delegation is also exploring partnerships with the state government in environment, infrastructure, construction and water sectors.
"Close relationships are already paying off. In the national level, we collaborate closely on everything from energy security to climate change and healthcare," Pickles said. The relationship is benefiting the UK too, he noted.
"Like you, we are in the midst of an infrastructure boom, rolling out superfast broadband and laying down a national high-speed rail network, to give us the backbone to compete on the global stage," he noted.
The positive aspect of India is "the sort of inward investment that saw Tata transforming iconic British brand Jaguar Land Rover into a runaway success," he said.
UK-India partnerships are also blossoming in Kerala, Pickles observed. "The special-purpose vessels built at Cochin Shipyard Ltd ( CSL) to ensure safe marine navigation along the Indian coast were designed and powered by Rolls Royce Marine. HR Wallingford has developed the liquefied natural gas terminal for Petronet LNG Ltd in Kochi," he highlighted.
"We are now looking at doubling our trade by 2015," he added.
Meanwhile, 40,000 Indian students are studying in the UK. And the British Council has trained nearly 1 million English language teachers, reaching over 17 million aspirational Indians who know that speaking English will help them to get on in life.
According to the British government's website, the bilateral trade between India and the UK touched 16.4 billion pounds in the fiscal year 2011 - 2012.
Pickles, who is leading a 20-member business delegation, was talking in Kochi on Wednesday in a seminar on UK-built environment expertise. The delegation is also exploring partnerships with the state government in environment, infrastructure, construction and water sectors.
"Close relationships are already paying off. In the national level, we collaborate closely on everything from energy security to climate change and healthcare," Pickles said. The relationship is benefiting the UK too, he noted.
"Like you, we are in the midst of an infrastructure boom, rolling out superfast broadband and laying down a national high-speed rail network, to give us the backbone to compete on the global stage," he noted.
The positive aspect of India is "the sort of inward investment that saw Tata transforming iconic British brand Jaguar Land Rover into a runaway success," he said.
UK-India partnerships are also blossoming in Kerala, Pickles observed. "The special-purpose vessels built at Cochin Shipyard Ltd ( CSL) to ensure safe marine navigation along the Indian coast were designed and powered by Rolls Royce Marine. HR Wallingford has developed the liquefied natural gas terminal for Petronet LNG Ltd in Kochi," he highlighted.
"We are now looking at doubling our trade by 2015," he added.
Meanwhile, 40,000 Indian students are studying in the UK. And the British Council has trained nearly 1 million English language teachers, reaching over 17 million aspirational Indians who know that speaking English will help them to get on in life.
According to the British government's website, the bilateral trade between India and the UK touched 16.4 billion pounds in the fiscal year 2011 - 2012.
MoU signed between Competition Commission of India and Australian Competition and Consumer Commission (ACCC)
New Delhi: Competition Commission of India (CCI) and Australian Competition and Consumer Commission (ACCC) signed a Memorandum of Understanding (MOU) on Cooperation at Canberra, Australia. The MOU was signed by Mr. Ashok Chawla, Chairperson, CCI and Mr. Rod Sims, Chairman, ACCC on 3rd June,2013. The signing took place in the presence of Mr. Sachin Pilot, Hon’ble State Minister of Corporate Affairs (Independent Charge).
The MOU provides for sharing information on significant developments in competition policy and enforcement developments in the respective jurisdictions. It is recognised that it may be in common interest of both the parties to work together in technical cooperation activities as well as cooperate in appropriate cases, consistent with the respective enforcement interests, legal constraints, and available resources. It is planned to evaluate the effectiveness of the cooperation under the Memorandum on a regular basis to ensure that the expectations and needs are being met. MOU is expected to further strengthen existing cooperation between CCI and ACCC
The MOU provides for sharing information on significant developments in competition policy and enforcement developments in the respective jurisdictions. It is recognised that it may be in common interest of both the parties to work together in technical cooperation activities as well as cooperate in appropriate cases, consistent with the respective enforcement interests, legal constraints, and available resources. It is planned to evaluate the effectiveness of the cooperation under the Memorandum on a regular basis to ensure that the expectations and needs are being met. MOU is expected to further strengthen existing cooperation between CCI and ACCC
OnMobile to buy US-based Livewire for $18 mn
Bengaluru:Mobile value-added services provider OnMobile Global Ltd has entered into a definitive agreement to acquire Boston-headquartered Livewire Mobile, a provider of managed mobile entertainment solutions for network operators and device manufacturers. It will pay $17.8 million (around Rs 100 crore on Tuesday) for the purchase of LiveWire’s business assets and some liabilities, subject to certain contingent payments, the Bangalore-based company said on Tuesday. As part of the agreement, OnMobile will also purchase stocks of Fonestarz Media Ltd, the managed services arm of Livewire based in the UK. With the completion of the acquisition, the new entity will be called OnMobile Live Inc, a fully owned subsidiary of OnMobile LLC, US. Established in 1983, Livewire Mobile provides a suite of solutions such as full track music, ringback tones, ringtones and infotainment services.
The company currently powers ringback tone and mobile music solutions for Sprint, MetroPCS and Public Mobile, among others.
With the acquisition of Livewire Mobile, OnMobile will now expand its music and ringback tone services to leading operators in North America.
“The acquisition augments our strong market presence in mobile cloud services that we currently provide to major mobile operators in North America. By successfully integrating OnMobile and Livewire’s products and by extending OnMobile’s proven managed services model, we believe we can create a truly compelling value proposition for the telecom operators and consumers worldwide,” said Mouli Raman, chief executive officer and co-founder of OnMobile Global.
The company currently powers ringback tone and mobile music solutions for Sprint, MetroPCS and Public Mobile, among others.
With the acquisition of Livewire Mobile, OnMobile will now expand its music and ringback tone services to leading operators in North America.
“The acquisition augments our strong market presence in mobile cloud services that we currently provide to major mobile operators in North America. By successfully integrating OnMobile and Livewire’s products and by extending OnMobile’s proven managed services model, we believe we can create a truly compelling value proposition for the telecom operators and consumers worldwide,” said Mouli Raman, chief executive officer and co-founder of OnMobile Global.
Lanco Infra bags Rs 3,294-cr EPC contract
Hyderabad: Lanco Infratech has been awarded a major EPC (engineering, procurement and construction) contract by Gujarat Industries Power Company.
The diversified infrastructure player won the deal amidst stiff competition , according to T. Adibabu, Chief Operating Officer, Finance, Lanco Infratech.
The order for setting up of 2x300 MW lignite-based thermal power project includes offshore and onshore supplies, civil and structuring works and engineering and procurement.
The contract worth Rs 3,294 crore is to be executed within 42 months. Work on the project site, including soil testing, will begin soon, Adibabu told Business Line.
With this deal, the company’s order book has gone up to Rs 30,000 crore.
On Tuesday, Lanco Infra shares closed at Rs 9.06, up 3.42 per cent on the BSE.
The diversified infrastructure player won the deal amidst stiff competition , according to T. Adibabu, Chief Operating Officer, Finance, Lanco Infratech.
The order for setting up of 2x300 MW lignite-based thermal power project includes offshore and onshore supplies, civil and structuring works and engineering and procurement.
The contract worth Rs 3,294 crore is to be executed within 42 months. Work on the project site, including soil testing, will begin soon, Adibabu told Business Line.
With this deal, the company’s order book has gone up to Rs 30,000 crore.
On Tuesday, Lanco Infra shares closed at Rs 9.06, up 3.42 per cent on the BSE.
CapVent AG buys 51% stake in Morf India
Chennai:Switzerland-based PE fund, Capvent AG has picked up a majority stake of 51% in Morf India, a Chennai based water engineering company which has operations throughout South India. The capital will be deployed to develop new and innovative products, brand campaigns and expansion plans.
"Given the rapidly growing size of our industry, it's time for us to reinvent ourselves and scale up faster," MV Praveen, managing director, Morf India said. The company has also embarked on a multi-tier business network, comprising distributors , channel partners and lead generators to reach out to its customers.
Last year, Morf entered in to a brand licensing agreement with Electrolux Home Products to manufacture and market their Kelvinator range of home water purifiers and air purifiers in India and Sri Lanka. Their first RO (reverse osmosis) water purifier model Kelvinator Ayoni has already been launched in Tamil Nadu, Karnataka and Andhra Pradesh.
"Given the rapidly growing size of our industry, it's time for us to reinvent ourselves and scale up faster," MV Praveen, managing director, Morf India said. The company has also embarked on a multi-tier business network, comprising distributors , channel partners and lead generators to reach out to its customers.
Last year, Morf entered in to a brand licensing agreement with Electrolux Home Products to manufacture and market their Kelvinator range of home water purifiers and air purifiers in India and Sri Lanka. Their first RO (reverse osmosis) water purifier model Kelvinator Ayoni has already been launched in Tamil Nadu, Karnataka and Andhra Pradesh.
CapVent AG buys 51% stake in Morf India
Chennai:Switzerland-based PE fund, Capvent AG has picked up a majority stake of 51% in Morf India, a Chennai based water engineering company which has operations throughout South India. The capital will be deployed to develop new and innovative products, brand campaigns and expansion plans.
"Given the rapidly growing size of our industry, it's time for us to reinvent ourselves and scale up faster," MV Praveen, managing director, Morf India said. The company has also embarked on a multi-tier business network, comprising distributors , channel partners and lead generators to reach out to its customers.
Last year, Morf entered in to a brand licensing agreement with Electrolux Home Products to manufacture and market their Kelvinator range of home water purifiers and air purifiers in India and Sri Lanka. Their first RO (reverse osmosis) water purifier model Kelvinator Ayoni has already been launched in Tamil Nadu, Karnataka and Andhra Pradesh.
"Given the rapidly growing size of our industry, it's time for us to reinvent ourselves and scale up faster," MV Praveen, managing director, Morf India said. The company has also embarked on a multi-tier business network, comprising distributors , channel partners and lead generators to reach out to its customers.
Last year, Morf entered in to a brand licensing agreement with Electrolux Home Products to manufacture and market their Kelvinator range of home water purifiers and air purifiers in India and Sri Lanka. Their first RO (reverse osmosis) water purifier model Kelvinator Ayoni has already been launched in Tamil Nadu, Karnataka and Andhra Pradesh.
Suzlon bags orders in Burgundy
Suzlon Group-subsidiary, REpower Systems, has concluded two contracts with ABO Wind for the supply of 13 wind turbines that will be installed for two wind farms in Burgundy. The wind farms will generate a total output of over 26 MW.
Olivier Perot, REpower S.A.S. Managing Director, said: “These wind farms Pune:strengthen our position in the Burgundy region which is very dynamic in wind energy.”
Clamecy wind farm with six MM 92 type wind turbines is located in la Nièvre department, while seven turbines are destined for the wind farms of Migé and Escamps, located in Yonne departement. The first machines will be delivered for fall 2013 and the commissioning is planned for winter 2013/14. REpower will also provide the full maintenance of the wind farms for 15 years.
“Both wind farms in Burgundy are consequently realising the idea of citizen participation," Patrick Bessière, Manager of ABO Wind SARL in Toulouse, said. Two turbines of the project Migé-Escamps will be owned by ABO Invest, held by 20 per cent of its shares by ABO Wind and the remaining 80 per cent by more than 2,000 citizens. The company operates seven wind farms in France, Germany and Ireland.
ABO Invest will further acquire 65 per cent of the wind farm Clamecy. The remaining 35 per cent will be held by a local corporation consisting of municipalities as well as citizens and the local energy utility Intercommunal d'Energies d'Equipement et d'Environnement dela Nièvre (SIEEEN).
The Suzlon stock hit a new 52-week low of Rs 10.40 on the BSE in morning trade today.
Keywords: Suzlon, REpower Systems, ABO Wind, Suzlon bags new wind farms order, Suzlon Burgundy order, Suzlon stock, Suzlon shares
Olivier Perot, REpower S.A.S. Managing Director, said: “These wind farms Pune:strengthen our position in the Burgundy region which is very dynamic in wind energy.”
Clamecy wind farm with six MM 92 type wind turbines is located in la Nièvre department, while seven turbines are destined for the wind farms of Migé and Escamps, located in Yonne departement. The first machines will be delivered for fall 2013 and the commissioning is planned for winter 2013/14. REpower will also provide the full maintenance of the wind farms for 15 years.
“Both wind farms in Burgundy are consequently realising the idea of citizen participation," Patrick Bessière, Manager of ABO Wind SARL in Toulouse, said. Two turbines of the project Migé-Escamps will be owned by ABO Invest, held by 20 per cent of its shares by ABO Wind and the remaining 80 per cent by more than 2,000 citizens. The company operates seven wind farms in France, Germany and Ireland.
ABO Invest will further acquire 65 per cent of the wind farm Clamecy. The remaining 35 per cent will be held by a local corporation consisting of municipalities as well as citizens and the local energy utility Intercommunal d'Energies d'Equipement et d'Environnement dela Nièvre (SIEEEN).
The Suzlon stock hit a new 52-week low of Rs 10.40 on the BSE in morning trade today.
Keywords: Suzlon, REpower Systems, ABO Wind, Suzlon bags new wind farms order, Suzlon Burgundy order, Suzlon stock, Suzlon shares
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