PATEL ENGG ACQUIRES US FIRM FOR $2.68 M
Article Abstract:
ASI RCC Colorado Inc (ASI) in the US has been taken over by Patel Engineering Company Ltd (PECL) of Mumbai, India for $2.68 million. ASI constructs roller compacted concrete dams and has set up about five percent of the roller compacted concrete dams across the globe. During 1996-97, ASI reported sales of $10 million and a net profit of $1.08 million. The take over is expected to enable PECL to use the modern technology available in America to implement projects in Western countries. PECL posted a net profit of Rs7.25 crore and a sales of Rs137 crore during 1997- 98. (ag)
Comment:
Is taken over by Patel Engineering Company of Mumbai, India for $2.68 mil
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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OMAN OIL MAY PICK UP STAKE IN ESSAR OIL
Article Abstract:
Oman Oil Company (OOC) has evinced interest in buying stake in Essar Oil. The Ruias, promoters of Essar Oil have offered 15-20 percent equity to OOC in their upcoming refinery project at Jamnagar. The refinery has a capacity of 10.5 million tonnes. Essar Oil has an equity of Rs417 crore. Of this, Ruias and their associates hold 52 percent stake, financial institutions and mutual funds hold 13 percent while the balance 35 percent is held by public. Oman Oil plans to enter into a crude oil supply agreement with Essar Oil to supply 20 percent of the refinery's crude requirements. (um)(vr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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THREE SUITORS LINE UP FOR VIP'S FURNITURE BUSINESS
Article Abstract:
VIP Industries plans to sell its Rs50-crore moulded furniture division. Three companies have expressed interest in purchasing the division. Time Packaging Ltd has offered a price of about Rs12 crore for VIP's furniture brand, Moderna. Wimplast Ltd is keen on acquiring equipment related to making moulded furniture. Nilkamal Plastics has also evinced interest in acquiring the division. (uh)(vr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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