Noida, India-based automotive component firm Motherson Sumi Systems, a joint venture between its parent Samvardhana Motherson Group and Sumitomo Wiring Systems of Japan, acquired Finland’s PKC Group Plc for about $609 million. “We are very happy to announce that we have successfully acquired 93.75 per cent shareholding in the PKC...
India's HCL Technologies to Provide IT for Volvo Ocean Race
The Volvo Ocean Race owned by Volvo Cars and the Volvo Group hosts a round-the-world yacht race once every three years. This race is often described as the longest and toughest professional sporting event in the world, sailing’s toughest team challenge, and one of the sport’s Big Three events, along...
Blackstone Puts Big Money in Indian Real Estate
New York City-based Blackstone Group is in advanced talks to acquire over 360,000 sq ft spread over six floors in the First International Financial Center (FIFC) Tower at Bandra-Kurla Complex, a business district in Mumbai, for over $125 million. With rising income levels of India's consumers, Blackstone has started focusing...
AkzoNobel Inaugurates Specialty Coatings Facility in India
AkzoNobel a Dutch multinational company in paints, coatings and specialty chemicals has set up a first-of-its-kind Specialty Coatings production facility and color laboratory in the satellite town of Noida 15 miles from New Delhi, reports BusinessWire, India. Alberto Slikta, managing director, Specialty Coatings, AkzoNobel, said, "India is a key market...
Fair Wear Foundation Reports Improvements in India's Apparel Industry
A report by multi stakeholder Fair Wear Foundation, a European initiative working to improve workplace conditions in the garment and textile industry, highlights positive factors in India's garment industry. Apparel Resources reports that Fair Wear Foundation India Country Study 2016 found no child labor in the garment industry of the...
Uflex Engineers "Seal of Authenticity" for Nestle India
Flexible packaging company Uflex Ltd., located in Noida, India, has created a 3-D seal for Nescafe instant coffee manufactured by Nestle India. The ‘Seal of Authenticity’ is an engineered tamper-proof brand protection / anti-counterfeiting solution that does not disturb the retail price coordinates. The seal, among several other features, comprises an...