DATAMATICS SETS UP SUBSIDIARY IN GERMANY
Article Abstract:
The software firm, Datamatics Ltd has set up a subsidiary at the outskirts of Frankfurt in Germany. The subsidiary will employees 40 software professionals. The company plans to invest Rs5 crore in the first year. The subsidiary will be assisted by the software development centres of Datamatics in India. The German subsidiary will offer software services in manufacturing applications, Euro currency conversion, migration services and solutions for the Y2K problem. Germany accounted for 15 percent of Datamatics' turnover of Rs150 crore in 1997-98. Datamatics has targeted an additional revenue of US$4 million during 1998-99. The company has set up a subsidiary in the US. It plans to set up subsidiaries in Japan and UK. (vv)
Comment:
Sets up subsidiary, which will employ 40 software professionals, at outskirts of Frankfurt, Germany
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GERMAN PARTNER RAISES STAKE IN ALTEK-LAMMERTZ
Article Abstract:
Lammertz Industrienadel Gmbh (LIG) of Germany has hiked its stake in Altek-Lammertz Needles Ltd (ALN) of Chennai to 36 percent from 26 percent. ALN's current capital base is at Rs10 crore and is the only company which manufactures industrial sewing needles in India. It is likely to supply 50 million needles per annum to LIG. ALN has decided to double its needle capacity at its Chennai plant. The expansion plans will involve a cost of Rs2 crore. ALN's list of clients include Bata India, Gokuldas Exports and the Government Ordnance factory. (gs) (khr)
Comment:
Lammertz Industrienadel Gmbh (LIG) of Germany has hiked its stake in Altek-Lammertz Needles Ltd (ALN) of Chennai to 36 percent from 26 percent.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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