HIND ANTIBIOTICS, MAX GB ROW HOTS UP
Article Abstract:
Hindustan Antibiotics Ltd (HAL) which has formed a joint venture, Hindustan Max GB (HMGB) with Max GB (MGB) is having a dispute with MGB. MGB plans to take legal action against HAL as HAL had leased out five of its streptomycin fermentors to Searle India. MGB had wanted the lease rent offered to their joint venture company HMGB. HAL has justified its stand stating that HMGB had paid a much lower amount of lease rent than what it offered for the use of HAL's other penicillin fermentors. According to HAL, HMGB failed to meet the requirements of Article 4.5 of the joint venture agreement. This has forced HAL to go in for an open tender process. HMGB is India's largest producer of Penicillin-G product. (gs)
Comment:
Hindustan Antibiotics Ltd (HAL) which has formed a joint venture, Hindustan Max GB (HMGB) with Max GB (MGB) is having a dispute with MGB.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HIND INDUSTRIES: FRESH MEAT BUT NOT ENTICING
Article Abstract:
Hind Industries Ltd, engaged in exporting packed and frozen meat, had made a Rs9.43 crore rights issue in March 1996 to finance its modernisation-cum-debottlenecking programme. The company has posted a net profit of Rs7.93 crore on a turnover of Rs52.83 crore in 1996-97. It posted a total income of Rs29.02 crore and an operating profit of Rs4.10 crore in the first half of 1997-98. The company's scrip is currently being traded at Rs8 which is a decline of 60 percent over the initial investment of Rs20 at the time of the rights issue. (khr) >EN
Comment:
Posts net profit of Rs7.93 crore on turnover of Rs52.83 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HIND SHIPYARD TARGETS 40% CUT IN WORKFORCE
Article Abstract:
Hindustan Shipyard Ltd (HSL) has decided to reduce its workforce by over 40 percent to 4,200 (from 5,200) in the next two years. The Indian government while approving HSL's Rs590- crore restructuring proposal in June 1997, had made it mandatory for HSL to reduce its workforce to 4,200. This was one the main conditions put forth by the government while clearing HSL's revamping project. Each worker who opts for the voluntary retirement scheme (VRS) scheme may get around Rs500,000. (gs)
Comment:
Decides to reduce its workforce by over 40% to 4,200 from 5,200 in the next two years
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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