IFC to invest in Craftsman Automation
Publish on 6/28/2010 11:06:32 AMThe International Finance Corp. (IFC) proposes to invest up to $37 million (Rs162 crore) in Coimbatore-based Craftsman Automation Pvt Ltd, to fund it's project that involves the setting up of four new units in strategic locations close to OEMs and their subsidiaries in the commercial vehicles and tractors segment. These new units will provide machining services to the OEM's and their subsidiaries. In addition to the new units, the project will also involve the expansion of the project company's existing facilities in India.
Swagelok opens India tech centre
Publish on 6/28/2010 11:06:39 AMSwagelok Company, a major developer and provider of fluid system solutions, has opened a new technology centre in Pune, India. The Swagelok India Technology Centre, a division of Bombay Fluid System Components Pvt. Ltd, will be operated by Swagelok Company and will provide product assembly services, technical service, education, training and development directly to customers in the region.
India to limit iron ore exports
Publish on 6/28/2010 10:06:50 AMIndia may impose taxes and quotas on exports of iron ore from the country in order to increase availability of the raw materials for the domestic steel industry, according to Indian Steel Minister Virbhadra Singh. "The government has taken a few policy measures to discourage avoidable exports of iron ore and consequently raise domestic availability by increasing export duty on lump ores to 15 percent and having a five percent duty on fines.
Malaysia to become major machine tools producer
Publish on 6/28/2010 10:06:51 AMMalaysia has the potential to become a regional major producer and centre of machinery and equipment (M&E), Deputy International Trade and Industry Minister Datuk Jacob Dungau Sagan said. He said that in the first quarter of 2010, the country's machinery, parts and appliances exports rose 16.9% to RM5.26 billion (US$1.56 billion), while imports increased by a much lesser percentage of 9.8 to RM9.73 billion (US$2.88 billion).
Russia's aluminium production to grow by 2012
Publish on 6/28/2010 09:06:24 AMAccording to the latest "European Aluminium Market Analysis" research report, Russia, being one of the largest exporters of primary aluminium, has seen continuous increase in the production level amid surging domestic and international demand. The primary aluminium production in Russia will continue to post around 11.2% CAGR during 2010-2012, backed by various prevailing trends discussed and evaluated in the report.
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