Centennial CO-headquartered Arrow Electronics entered into a definitive agreement to acquire product engineering and software R&D services company eInfochips Ltd, headquartered both in Ahmedabad, India and San Jose, California. After the acquisition, which is likely to close this month, eInfochips will act as a fully-owned subsidiary of Arrow Electronics. Pratul...
S. Korea's Lotte Acquires Ice Cream Maker in India
South Korea’s Lotte Confectionery bought Ahmedabad, Gujarat-headquartered ice cream maker Havmor Ice Cream Ltd for $150 million in an all cash deal. Privately held Havmor, worked with KPMG, Veritas Legal and Dhruva Tax Consultants, to seal the deal. It is the first time that a South Korean company has entered the food space...
Johnson Controls and Hitachi to Set Up Export Hub in India
Wisconsin-based Johnson Controls and Hitachi Airconditioning India Ltd., will develop and manufacture air-conditioners in its plant near Ahmedabad, Gujarat, for sale in the Middle-East and Southeast Asia. Global CEO Franz Cerwinka said, "We also want to expand our manufacturing to export out of India. The Indian operations contribute 12 percent...
Warehousing Sector Surges in India
In anticipation of the national Goods and Services Tax roll-out in July, warehousing facilities will increase by 18 percent to 132.5 million sq ft, and this sector is likely to see investments of about $700 million, according to industry experts Delhi-NCR had the maximum warehousing stock in 2016 at 29.3...
MIT Grads Provide Biodegradable Sanitary Pads to Rural India
A startup, Saathi (meaning 'companion' in Hindi), founded by three graduates from the Massachusetts Institute of Technology and a graduate from Nirma University in India, is hoping to improve access and waste disposal of sanitary pads for women in rural India. 275,000,000 women in India cannot access pads because they are...
Baxter Acquires India's Claris Lifesciences
To boost its position in the global sterile injectables market, estimated at more than $40 billion and growing at a 10% annually, Illinois-based Baxter International acquired Ahmedabad, India-based Claris Lifesciences, that deals in the specialty injectables business, for $625 million. The deal will close in the second quarter of 2017....