Financial express : quick view
Cadbury to launch more premium chocolates
Cadbury India will launch more premium chocolates in the local market. “One of our strategies is to launch more premiumchocolates in the Indian market,” managing director Anand Kripalu said on Thursday. “At the other end of the spectrum, wealso want to tap the rural market and we want to launch more products for the rural markets,” he said. “Two of our premiumchocolate brands — Bournville and Dairy Milk Silk — are doing very well,” said Kripalu. He said Cadbury has starteddeveloping top-end products to cater to 3% of India’s population that he described as “rich” and which is “as big as that ofAustralia.” Cadbury India also said it will start local manufacturing of parent Kraft Foods’ orange drink Tang, while it will alsoembark on a capacity expansion for its confectionery products.
Toyota to roll out 11 hybrid cars by 2012
Toyota Motor Corp said on Thursday that it will launch 11 all-new and redesigned models of gasoline-electric hybrid vehiclesby the end of 2012 to accelerate its eco-friendly vehicle strategy on consumers’ growing interest in environmentalconservation. Among them will be a highly fuel-efficient compact car that will run for at least 40 kilometers per litre of gasoline,the largest Japanese carmaker said. Under its plan for environmental conservation technologies, Toyota will also start salesof a plug-in hybrid vehicle in Japan, the United States and Europe by early 2012.
Gail to raise $420 m by borrowing, selling debt
Gail India, the nation’s biggest natural gas distributor, plans to raise about $420 million borrowing from the US Export-ImportBank and selling local-currency debt this year to fund projects. The state-run company, which borrowed $100 million from theExim Bank recently has applied for an additional $100 million loan, finance director RK Goel said.
Palfinger to tie up with TVS, unit in Chennai soon
Austria-based Palfinger, one of the leading manufacturers of truck mounted cranes, hydraulic lifting and loading machines, issetting up an assembly line near Chennai to produce truck mounted cranes. Palfinger, which has been selling its products inIndia through imports over the last two years, has on Thursday, announced its tie-up with TVS & Sons, the parentcompany of entire TVS group, to distribute and market its range of products, being assembled in Chennai plant, across foursouthern states.
Sun Pharma gets FDA nod for generic clarinex
Sun Pharmaceutical Industries got US Food and Drug Administration’s approval for its abbreviated new drug application tomarket generic clarinex and diltiazem ER. In a press release, the company said clarinex is used to treat seasonal andperennial allergic rhinitis and chronic idiopathic urticaria, while diltiazem ER is used to treat hypertension. Clarinex has annualsales of approximately $212 million in US, while annual sales for diltiazem ER is $46 million, the release said.
Patni bags five-year contract of UK’s 2e2
Patni Computer on Thursday said that it has secured a five-year contract with UK IT services provider, 2e2. The contract willprovide a range of support services for 2e2’s end-user clients and the delivery of in-house support services. The estimatedcontract value is in the region of £20 million with the potential to further scale rapidly in the first two-years, the company saidin a statement. 2e2 is one of the fastest-growing IT service providers in Europe and has operations across the UK and Isle ofMan, the Netherlands, Spain, Ireland and the Channel Islands.
LG bets big on smartphones
Handset maker LG is making an aggressive bid for India’s handset market, with a focus on smart phones. On Thursday, LGsaid it will invest more than Rs 100 crore for the marketing and promotion of its smartphone range ‘Optimus’ in the countrynext year. The investment is a part of a Rs 350-crore marketing budget for 2011. “We entered the smartphone segment laterthan many of our competitors. But over the next six months, we will launch 10 more devices in the Optimus series, pricedbetween Rs 8,000-30,000,” LG Electronics India Managing Director Moon B Shin said on Thursday.
HP set to roll out new PC in India
Hewlett-Packard Co said it will offer a new desktop personal-computer in India, after the global industry leader lost marketshare to rival Dell Inc. in Asia’s third-biggest economy. The company will start selling the HP DreamScreen desktop at aboutRs 19,999 each in 700 outlets in 60 cities later this month, according to a statement issued in New Delhi today. The productis intended to facilitate Internet access for family users, it said.
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