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Article Abstract:
Dr A S Ganguly, Chairman of ICI India Limited (ICI), spoke about the performance of ICI in 1997-98 and the future plans of the company at the 44th annual general meeting held on July 23, 1998. ICI has a presence in paints, speciality products, catalysts, polyurethanes, acrylics, explosives, rubber chemicals, pharmaceuticals and nitrocellulose sectors. In the paints sector, the company opened a new plant in Mumbai, which is operating at full capacity, and a new 20 million litres per year plant in Mohali, near Chandigarh, during 1997-98. It has also proposed to pick up 9.1 percent stake in Asian Paints. In performance materials, a customer partnership unit, comprising an innovation centre and a blending plant for polyurethanes, was commissioned in Thane, near Mumbai. In acrylics products, ICI has proposed a joint venture with the Gujarat State Fertilisers & Chemicals, the largest acrylics manufacturer in India. In rubber chemicals, fresh investments were made to raise the capacity, reduce costs and manufacture products for exports. In speciality chemicals, ICI opened a world-class Textile Applications Centre near Mumbai to promote the growth of quality textiles in partnership with the customers. To increase its market share in coatings, personal care products and quality leather finishes, ICI acquired the nitrocellulose business of Asha Nitrochem in 1997-98. ICI plans to concentrate on food, home care, personal care, paper, electronics, construction and automotives. The thrust areas will be speciality chemicals products, paints and performance materials. (gsh)
Comment:
Paint firm's chairman speaks about the performance of this co in 1997-98 and its future plans
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MOBIL PEEVES DEFERS BEYPORE PORT, LPG TERMINAL PROJECTS
Article Abstract:
Mobil Peeves Company Ltd, a joint venture between Mobil Oil Corporation of the US and a Dubai-based non-resident Indian, has postponed its plans to develop the Beypore port and LPG terminal project near Kozhikode. The project has been facing problems due to cost escalation of the port project, resistance from the local fishing community and the Kerala government's stand on the issue of dumping of dredged material. The company has already spent about Rs25 crore in developing the port facility. the project cost had been estimated at Rs35 crore in 1994 but the current estimate is placed at Rs100 crore. (khr)
Comment:
Mobil Peeves Company Ltd, a joint venture between Mobil Oil Corporation of the US and a Dubai-based non-resident Indian, has postponed its plans to develop the Beypore port and LPG terminal project near Kozhikode.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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TITAN MAY EXIT FROM LOW-END CLOCK MARKET
Article Abstract:
Titan Industries is planning to quit the low end of the clock market and concentrate on premium end clocks costing over Rs500 per unit. It plans to phase out its functional, plastic clock range, costing between Rs195 and Rs495, in 1999-2000 AD. The company says that the low end clock business does not have a large turnover and not much profit either. It plans to focus on the premium end where it can leverage its core competencies of design, brand name and distribution reach. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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