THYSSEN PULLS OUT OF $75 M JISCO SECURITISATION DEAL
Article Abstract:
Thyssen, a leading steel manufacturing company of Germany, has withdrawn from an export securitisation contract signed with the Jindal Iron and Steel Co (Jisco) because of the nuclear tests by India. Jisco has benefited by this move of Thyssen, as it would have incurred a heavy loss due to depreciation of the rupee by around 9 percent since May 11 1998, the date of nuclear tests. The deal aimed at exporting 60,000 tonnes of galvanised products to Europe. (gs)
Comment:
Thyssen withdraws export securitization contract signed with this co because of nuclear tests by India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CEAT MOVES NET PROFIT UP TO Rs6 CRORE
Article Abstract:
Ceat Ltd posted a net profit of Rs6.08 crore for the first half of 1998-99 (Rs4.74 crore for the first half of 1997-98). Its posted gross sales of Rs577.17 crore (Rs582.80 crore) and a gross profit of Rs9.68 crore (Rs11.78 crore). It incurred an extraordinary item of Rs6.28 crore from sale of certain equipment and settlement of claims relating to the sale of its nylon tyre cord division. (vv)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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