French multinational company Imerys Group has agreed to buy thermal insulation business from CK Birla Group-controlled Hyderabad Industries Limited and the agreements have been signed. The transaction will be part of HIL’s strategy to divest its non-core assets and focus on core building and infrastructure business.
The company, a leading bearing manufacturer in the country, has acquired Kinex through its Europe-based subsidiary. Size of the deal was however not disclosed by NEI. The transaction is in line with the company's strategy to augment its product portfolio, expand geographic footprint as well as serve the existing customers better and acquire new ones.
Hemant Sood comes with three decades of experience in the financial services sector, across companies like Tata Communications Payment Solutions and Transaction Solutions India. He has also achieved results in driving revenue through scalable innovations and novel sales channels.
The expansion project will be implemented at the customer's brownfield plant in Germany over 30 months. As the strategic engineering partner, L&T Technology Services will execute the entire project through an EPCM model, from procurement and supply chain management support to safety aspects and efficient design.
Its urban transport business has secured an order of Rs 964 crore for the construction of elevated viaduct along with 8 stations of the Delhi Metro Phase IV project from Delhi Metro Rail Corporation (DMRC), the company said.
“Michigan Air Solutions complements ELGi’s global growth strategy, and brings significant market reach and scale, that will add further value to our product offerings and go-to-market plans across the region," said Dr. Jairam Varadaraj, Managing Director, Elgi Equipments.
A waste water treatment plant is being set up in Okhla here at a cost of 145 million euros and will be operational within three years, said Suez Group's Senior Executive Vice President Ana Giros Calpe, who was in the national capital recently. Besides this, a 72 million euros water distribution project in Mangalore will kick off within a month, Calpe added.
“We are massively investing to be present in India and we would like to be treated as 100% Indian company,” Alain Spohr, managing director-India and South Asia for Alstom told ET in an interview. He said the company has invested ‘hundreds of millions of euros’ in India, though he did not reveal the actual figure.
The construction arm of L&T has secured orders from clients across various states for its varied businesses, the company said in a filing to the BSE. L&T's power transmission and distribution business has bagged various orders in India and overseas. Additional orders have been won in ongoing projects in the Middle East, the company said.
Chief Operating Officer Abhishek Sinha said the new-age business opportunities in aviation sector call for a “transformative” approach including fresh ideas, elaborate evaluation of best-fit technology solution and capability to accelerate business growth through innovation.
The Chennai-headquartered firm has bagged the Rs 1,477 crore contract on 'one city, one operator' model and will operate, maintain and manage the system in both the cities for a period of 10 years, expandable for an additional period of five years.
A recent investigation by the company revealed that nine wrongful transactions, allegedly undertaken by the promoter group led by Gautam Thapar, had caused it a loss of around Rs 3,000 crore. The company is doing a deeper investigation under what it calls ‘Phase 2’, even as the Ministry of Corporate Affairs has referred the case to the SFIO.
India is said to be scaling down contracts with Hamburg-based turbine manufacturer Senvion after its solvency filed in German court of law. Alfanar Energy, which had signed a contract with Senvion for a 300 MW project in India, terminated the order and awarded it to Siemens Gamesa Renewable Energy.
In its urban transportation business, the company bagged an order of Rs 853 crore for the construction of elevated viaduct along with 10 stations of the Delhi Metro Phase IV project, from Delhi Metro Rail Corporation (DMRC).