With the view to diversify its business footprints in the international business arena, Hindustan Sanitaryware and Industries (HSIL) has announced that it is eyeing to acquire a company in Europe.

According to the sources, the proposed acquisition will be the company’s first ever overseas venture for which it has recognized three Europe-based conglomerates.

The sources further revealed that through the acquisition, the company is hoping to apply the innovative overseas technological development in the field of sanitary products in its domestic operations.

The company has also drawn its road map to foray into new export markets such as New Zealand, South America and Singapore which will boost their export business.

Era E-Zone India has informed that the company has inked a memorandum of understanding (MoU) with Angel Buildcon.

The proposed MoU has been signed for carrying on the business of exhibiting cinematic films in the four screen multiplex at Angel Mega Mall positioned at Kaushambi, Ghaziabad, Uttar Pradesh.

The source close to the company has revealed that the multiplex is likely to be functional by March, 2009.  

This MoU is valid for a duration of 15 years from the date of exhibition of first film in the multiplex.       

Ambalal Sarabhai Enterprises has disclosed that the company has acquired 100% paid up capital of Suvik Hi-tek.

The source close to the company stated that through the proposed deal, Suvik Hi-tek (P) will now become Ambalal Sarabhai`s  wholly owned subsidiary.  
 
Gandhinagar based Suvik Hi-tek is a small scale industry, that participates in the business of manufacture and marketing of pharmaceutical formulations.
 
The major activity of Ambalal Sarabhai Enterprises (ASEL) is to make drugs and pharmaceuticals, industrial chemicals, detergents, toiletries, electronics, engineering products, paper, glass and plastic containers and packaging materials. The conglomerate also participates in industrial research and consultancy services.

Shriram EPC has revealed that the company has secured two orders with combined worth of Rs. 809.7 million from Rashtriya Ispat Nigam for its Visakhapatnam Steel Plant.

According to the sources, the first order will execute design, manufacture, supply of indigenous plant and machinery and equipment for the Special Bar Mill (SBM). Whereas, the second order carry out storage, handling, erection, testing, commissioning and PG tests for the SBM.

Pyramid and Longzhe Culture and Theatre (PLCTL), has rolled out its first ever theatre in Huainan, China - the Huainan Pyramid Longzhe Theatre Entertainment Tower.

According to the sources, PLCTL is a joint venture, formed between Chennai-based Pyramid Saimira Theatre and Longzhe Group supported by The China Society of Music Research Board (CSMRB).

For further expansion, the JV eyes to pump $ 30 million in the coming 6 months in China.

Recently, Reliance Communications made the announcement that the company is investing around USD 3 billion for their upcoming GSM operations in the Indian market.