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Written by Vijay
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Wednesday, 10 March 2010 |
Mumbai: Daimler has sold all of its 5.34% of the ordinary shares of Indian automotive company Tata Motors to various groups of investors through the capital market. Tata Motors’ share price has risen significantly, especially last year, so Daimler will receive a substantial cash inflow of approximately €300 million from the sale of its shares.
The transaction will have a positive effect on Daimler’s EBIT of approximately €265 million and will be accounted for in the first quarter of 2010. |
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Written by Subash
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Wednesday, 10 March 2010 |
Hyderabad: Pennar Industries as commissioned the rotary compressor housing manufacturing line at its plant at Isnapur near Hyderabad. The line was commissioned in a period of three months.
Pennar`s new rotary compressor housing manufacturing line is capable of producing over 700,000 nos. of housings per year. The company expects to achieve full capacity utilization in six months time. Pennar envisages huge growth for rotary compressors in the coming years and consequently for its compressor housings. |
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Written by Ganesh
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Tuesday, 09 March 2010 |
New Delhi / Vienna: A new report by the United Nations Industrial Development Organization (UNIDO) states that India has emerged as one of the world's top ten countries in industrial production.
According to UNIDO's 'Yearbook of Industrial Statistics 2010' the top ten in 2009 were: the U.S., China, Japan, Germany, the Republic of Korea, France, Italy, the U.K., India and Brazil. India surpassed Canada, Brazil and Mexico in 2009 to reach the 9th position from the 12th position it held in 2008. |
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Written by Krishna Kumar
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Tuesday, 09 March 2010 |
Chennai: Power Steering System Manufacturer, Rane TRW Steering Systems Limited (RTSSL) has inaugurated it's new production plant at Pantnagar, Uttarakhand.
RTSSL has invested Rs. 140 million in the new world-class facility with initial capacity attuned to supply Power Steering Gears and Pumps for Ashok Leyland’s Heavy & Medium Commercial Vehicles and Tata Motors’ Tata Ace. The plant has a capacity for producing 80,000 Steering Gears for Commercial vehicles and 50,000 pumps per annum initially. |
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Written by Vijay
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Tuesday, 09 March 2010 |
Mumbai: Ashok Leyland has inaugurated it's largest manufacturing facility, the new plant in Pantnagar. This is the company's seventh unit and Rs 1,500 crore has already been invested. The plant has a capacity of about 75,000 units per annum on a three-shift basis.
The 200,000 sq.ms of built up area houses one of the most integrated manufacturing facilities in Indian commercial vehicle industry. The facilities have been so designed as to accommodate further expansion in terms of capacity and future models. The company will manufacture the new 'U' trucks, which was showcased these at the Auto Expo in January, at the new plant. |
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