| Flextronics
to invest $100 m for Chennai park |
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Singapore’s Flextronics
recently signed a memorandum of understanding
with the Tamil Nadu government to set up its industrial
park on a 200-acre plot in Sriperumbudur, near
Chennai. Involving an investment of about $100
mn (about Rs 440 crore) over five years, the company
plans to make telecom equipment at the unit.
A leading Electronics Manufacturing
Services (EMS) provider, Flextronics’ Chennai
facility will offer services such as plastic injection
molding, circuit-board assembly, distribution,
logistics and repair.
The facility will support the
manufacturing needs of local as well as global
customers, said Peter Tan, president and managing
director of Flextronics' Asian operations.
The park will also include
facilities for some of The Company’s component
suppliers, who will bring in additional investments.
Flextronics currently employs
5,000 people in India at manufacturing facilities
in Bangalore and Pondicherry and at software development
and hardware design centers in Bangalore, Chennai
and Gurgaon.
Besides India’s low cost
manufacturing advantage Flextronics officials
emphasised the size of Indian telecom and electronics
market as a key consideration in expanding their
base in India.
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| Apeejay
eyes plantations abroad |
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The Apeejay
Surrendra group plans to grow its packet tea and
plantations businesses simultaneously, for which
purpose it is on the look out for plantations beyond
the domestic market.
The group plans to use its high level of skill and
expertise in the plantations business by investing
in Kenya, Sri Lanka and Vietnam.
Apeejay currently has a workforce of over 40,000
spread across 17 estates covering over 30,000 acres,
yielding over 21 mn kg of tea.
Three of
its single estate teas—Sessa, Pengaree and
Khobong—are sold in Harrods and other premium
tea boutiques across the world. Besides it also
operates through its own premium tea boutiques,
Flurys and Cha bar.
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| Shoppers'
Stop zeroes in on niche retail formats |
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Shoppers’ Stop is steadily
carving a presence in niche retail categories
and formats and is all set to launch its first
one-stop home solutions store ‘Home Stop’
in Bangalore shortly
Besides the Retail major also has plans for a
1,00,000 square feet hypermarket ‘Hypercity’
by the end of this financial year in either Mumbai
or Pune.
With plans to open eight such hypermarkets over
the next two years, the company is considering
either creating a new brand or tying up with an
existing brand as in the case with Mothercare,
the global brand for infants and children.
As per this deal, Shoppers’ Stop will be
opening 40 Mothercare outlets over the next five
years, to cater to the fast-growing children’s
market.
Earlier this year, Shoppers’
Stop entered into a similar tie-up with a cosmetics
brand, MAC, to set up the latter’s exclusive
stores in the country, allowing it a presence
in the high-end beauty and cosmetics market.
With an established presence
in books and music retailing through Crossword,
the Company is also looking at other niches in
the retail category. The Company currently has
a network of 20 stores across 10 cities in India,
with a Rs 511 crore (US $119) revenue in 2004-05.
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| Sun
Pharma’s Hungary arm to focus on EU, US push |
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Sun Pharma, intends to use
its recently acquired Hungarian production facility
for making product filings in bulk drugs and formulations
in several international markets, including the
US and Europe. The facility is one of the few
units worldwide authorised to produce controlled
substances.
A second acquisition in the
US will help the Indian pharma major enter the
generic market for creams, ointments and liquid,
which it plans to market through its existing
US subsidiary, Caraco.
Both the acquisitions address
specific opportunities in the European and US
generic markets, and facilitate its entry into
the controlled substance space across various
dosage forms. Capacity upgradation and expansion
projects are on the cards at both plants.
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