Berlin - The Canadian-Austrian car parts supplier Magna presented the German government Tuesday with the outline for an Opel bailout proposal. German Economics Minister Karl-Theodor zu Guttenberg said Magna had laid out an "initial interesting rough concept," at a face-to face meeting in Berlin.

The next step was to underpin the draft with clear facts and figures, the economics minister added.

Max New York Life Insurance, one of the leading private insurer, has tied knot with SOTC, a division of Kuoni Travel India Private Limited and India's No. 1 holiday brand to offer financial planning sessions and insurance solutions to latter's customers.

As part of the exclusive personal financial planning session, SOTC customers will be assisted by Max New York Life's Financial Planning Manager who will offer customized need based life /health insurance solutions.

Water purifier manufacturer Kent RO Systems is all set to enter the estimated Rs 300 crore low-cost mass market water purifier segment.

According to latest reports it has revealed that, the company is set to launch a low cost purifier in the gravity storage water purifier segment next month.

The water purifier would be based on ultra filtration technology in which water filters through UF hollow membrane without using any chemical such as chlorine or bromine.

World number one bearings maker SKF plans to invest Rs 150 crore in a new ball bearings manufacturing plant at Haridwar, located in the northern state of Uttarakhand.

The proposed plant at Haridwar would be company's fifth unit in the country, which will supply products to companies like Hero Honda, Bajaj Auto, Tata Motors, Ashok Leyland and Mahindra & Mahindra.

In addition, the facility will also supply ball-bearings to Tata Motors for its Pantnagar plant and Bajaj Auto for its Rudrapur facility at a later stage.

Kilburn Engineering Ltd., a leading manufacturer of all type of Dryers and Drying Equipment in India, has entered into a MOU with Chemetall-Rai India Ltd. for buying about 8 acres of land at Goregaon (East), Mumbai for Rs 8.67 crore.

The above quoted price is exclusive of stamp duty, registration fees, site development expenses, MIDC charges etc.

The company intends to use the land for setting up a state-of-the-art manufacturing facility at the location which is expected to be operational from mid 2010.

Part of the US$ 2.5 billion plus Landmark Group, Emax, notified that it has selected Orion Enterprise solution, a subsidiary of 3i Infotech for providing IT solutions.

India-based 3i Infotech provides a range of information technology solutions for insurance, banking & finance, Capital Markets, Mutual Funds, e-Governance, manufacturing, and retail & distribution.