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Friday, March 09, 2018

Engineering exports to touch new high this fiscal: Teaotia
Engineering exports, which have been recording a healthy growth, are expected to see a “new high” in the current financial year, a top central government official said yesterday. Exports from this sector have grown by about 22% to USD 62 billion during the April-January period of 2017-18. Commerce Secretary Rita Teaotia said the exports to developed countries are growing at a rapid pace. Shipments to North America and Europe account for about 40% of the total exports from the sector, she said. "We are confident that, the exports will see a new high this financial year," she said at the inauguration of India Engineering Sourcing Show.

US tariffs on steel to hit Indian market, says ISA
Indian Steel Association has raised concerns that the US move to raise import tariffs will encourage surplus nations to divert their steel exports to consuming nations like India affecting the local markets. ISA represents major public and private sector steel players in the country. US President Donald Trump said on March 1 that he would impose 25% import tariff on steel and 10% on aluminium to protect US producers. The apex industry body has raised concerns that imposition of steep tariffs on import by the US will adversely affect the domestic steel industry. "Tariffs by the US will inevitably encourage steel-surplus nations to divert their exports to vibrant consumption centres like India and distort our domestic markets considerably," ISA said.

Blackstone appoints Dalip Sehgal as Nexus Malls CEO
Global PE major, Blackstone Group, has appointed Dalip Sehgal as Chief Executive Officer (CEO) of its fully-owned subsidiary, Nexus Malls. Sehgal joins Nexus Malls from Graviss Group, where he served as Managing Director. He would be responsible for overall operations of all the assets of Nexus and drive expansion across geographies. Welcoming his appointment Tuhin Parikh, Senior MD, Blackstone said, “Dalip is a seasoned professional with over 35 years of consumer facing experience and I have full confidence in him to scale up our management and portfolio.”

Centaur Pharmaceuticals & Kibow Biotech, USA, announce strategic alliance
Centaur Pharmaceuticals and Kibow Biotech USA announced a strategic long-term alliance to market Renadyl in India. Centaur will initially import and market the product in India, and will eventually manufacture and market with technical inputs from Kibow Biotech. Commenting on this strategic alliance, Dr Natrajan Ranganathan, Ph.D. (Bio-organic Chemistry), inventor of the globally patented product, and the Founder and Managing Director of Kibow Biotech, said, “Now we can together offer the benefits of my 20 years of research to millions of Indian patients suffering from Chronic Kidney Disease (CKD) and make their lives better.” Speaking on this occasion, S. D. Sawant, CMD, Centaur Pharmaceuticals, said, “Through this alliance, Centaur will leverage Kibow’s research expertise and its own strong manufacturing and marketing skills to offer hope in the form of Renadyl to patients in India suffering from CKD.”

Renault Duster My18 Range launched
Renault has announced exciting new pricing on MY18 Duster range, owing to an increase in localization. This strongly reflects Renault’s focused strategy to grow its business in India with a strong product-offensive plan backed by an aggressive localization strategy. Renault, one of the fastest growing automotive brands in India, Renault Juhu & Kandivali (Benchmark Motors Pvt. Ltd.) are 2 new authorized dealers of Renault in Mumbai. The new dealership facility will offer Renault’s best-in-class products to the discerning customers in Mumbai and adjoining areas. With the MY18 range reshuffle, new customers can save up to Rs. 1 Lakh effective March 1st, 2018.

Maxxis Tyres launches first Indian plant, to invest Rs 2,640cr
Maxxis Rubber India, a unit of Taiwan-based Maxxis Group, yesterday launched its first manufacturing plant at Sanand, Gujarat with an investment of around Rs 2,640 crore. Of the entire investment of USD 400 million (around Rs 2,640 crore), the company has invested USD 320 million initially  for its first phase, which will have a production capacity of 20,000 two-wheeler tyres and 40,000 tubes a day, according to company spokesperson Jia-Ciao Liou. The plant, spread across 106 acre, was inaugurated by chief minister Vijay Rupani yesterday.

Lanxess India showcases latest innovations for paint and coating industry
German based specialty chemicals company Lanxess is presenting its comprehensive product portfolio for the paint and coatings industry at the Paint India 2018 exhibition, which will go on till March 10, 2018 at Bombay Exhibition Centre in Mumbai. Speaking on Lanxess’s presence at the exhibition, Pradeep Kumar, Head of Indian Sub-Continent and ASEAN Region in the Business Unit Inorganic Pigments at Lanxess India said, “With high performance grades Bayferrox and Colortherm, we provide a reliable and highly innovative basis to our customers, allowing them more efficient and sustainable processing for their high quality products. Paint India is an important platform and channel of communication for informing our customers and sales agencies in the coatings industry of new product developments.”

Tata Power achieves its record power generation in February
Tata Power yesterday said it has registered the highest ever gross power generation at 4,647 million units (MU) in February 2018. "Tata Power registered the highest ever gross electricity generation of February 2018 at 4647 Million Units. Tata Power has demonstrated a 3 per cent increase in gross generation capacity when compared to the same month last year where it generated 4,518 million units," a company statement said. “We are confident that our efforts in implementing world class technologies and processes in this direction will benefit the company in the years to come and enable us to achieve better generation consistently,” Tata Power MD & CEO Anil Sardana said.

Skipper, Metzerplas enter into an exclusive JV
Skipper Ltd, one of the fastest growing and a significant player in water infrastructure of India, announced a Limited Liability Partnership Agreement with Israel based company, Metzerplas. The name of the LLP shall be “Skipper-Metzer India LLP”. The agreement is of Equal Ownership Interest – 50:50 and the total investment in the first phase is agreed to be 8 Million USD. “We are proud to join forces with Metzerplas – combining our large-scale consumer base, leading-edge production infrastructure and business insights with their unparalleled technology expertise," said Devesh Bansal, Director, Skipper Limited.

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