Company Updates

KEC International wins two new orders worth Rs 95 crore

KEC International wins two new orders worth Rs 95 croreKEC International, one of the largest Power Transmission EPC companies in the world, has received two new orders worth Rs 95 crore in Mozambique and Namibia.
 
According to an official statement, the first order, which is for Mozambique includes construction of a 100 km-110 kv transmission line and substation in Cabo Dalgado region.

Marico to sell its stake in Sundari LLC; Q4 Net profit surges 10%

Marico to sell its stake in Sundari LLC; Q4 Net profit surges 10%FMCG company Marico has finally agreed to sell its stake in Sundari LLC to US-based Wellness Systems (WS), for an undisclosed amount.

Sundari LLC is engaged in the manufacturing and marketing of skincare cosmetics and accessories, primarily in the US and Europe.

While, Wellness Systems is a limited liability company promoted by two of Marico Group's senior managers who were in charge of the Sundari business.

However, it should be noted that the transaction is, subject to necessary regulatory approvals.

Amtek Auto in talks to acquire OISL, stock shoots up 13%

Mouse maker Logitech hit by economic downturn

Mouse maker Logitech hit by economic downturnGeneva - Logitech announced Thursday losses in its fourth quarter results and said sales stood at 408 million dollars, down 32 percent from the same period last year.

The Swiss company, the largest maker of computer mice in the world, posted an operating loss of 43 million dollars for the quarter, compared to an operating profit of 66 million dollars for the last months of the previous fiscal year.

BGR Energy Receives Rs 16 Cr Order From Maithon Power

BGR Energy Receives Rs 16 Cr Order From Maithon PowerBGR Energy, engineering equipment supplier, has announced that it has secured a deal worth Rs 15.5 crore.

The scope of the order includes design, engineering, supply, erection and commissioning of large `Total Water System` from Maithon Power, Jharkhand.

The water system would be established in a coal-based power plant being developed by Maithon Power Ltd, a joint venture company of Tata Power and Damodar Valley Corporation.

The company said that the order is to be completed by March 2010.  

Matrix To Supply HIV Drugs To Clinton AIDS Plan

Matrix To Supply HIV Drugs To Clinton AIDS PlanUnder its UNITAID-funded projects, the Clinton HIV/AIDS Initiative (CHAI) has named Matrix Laboratories Limited as the primary supplier of five antiretroviral (ARVs) drugs, which are used in the secondline treatment plans.

Moreover, the India-based unit of Mylan has also been selected as the main supplier of seven anti-retrovirals (ARVs) used for pediatric treatment.

Matrix's second-line products chosen for the 2009 UNITAID-CHAI projects comprise heat-stable Lopinavir/Ritonarvir.

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