ALCAN FIRMS UP PLANS TO CONTROL INDAL BOARD
Article Abstract:
Alcan Aluminium of Canada has decided to take up full control over its Indian subsidiary, Indian Aluminium Company Ltd (Indal). The Canadian company is set to make significant changes in the Indal board after the board's meeting scheduled to be held on October 26, 1998 at Mumbai. Mr Tapan Mitra, vice chairman and managing director, will resign from his post of managing director on October 26, and in his place Mr NK Chowdary will be appointed. Mr Tapan Mitra will retain his post of vice-chairman till December 31, 1998. A nominee of Alcan Aluminium will take over charge from Mr SM Datta, the chairman of the Indal board. The Alcan nominee who will be selected among leading officers at Montreal will be given all executive powers. (gs)
Comment:
Alcan Aluminium of Canada has decided to take up full control over its Indian subsidiary, Indian Aluminium Company Ltd.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INDAL TO RAISE RECYCLING OUTPUT WITH CUT IN DUTY
Article Abstract:
Indian Aluminium Company Limited (Indal) proposes to hike the supply of recycled metal following a reduction in the basic customs duty to 10 percent from 20 percent. It also plans to move out from the local market as a buyer. Indal will be increasing the recycled metal supply by 20,000 tonnes from its recycling plant at Taloja in Maharashtra. Indal, which needs 80,000 tonnes of metal, plans to source 50 percent of its needs from its smelters at Hirakud (30,000 tonnes) and Alupuram (10,000 tonnes). It will also be tolling its alumina at other smelters in India to meet 30 percent of its metal needs. The balance will be met through duty free imports and minor local purchases. (ag)
Comment:
To increase prodn of recycled metal following 10% reduction in basic customs duty
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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