Leela Ventures To Joins Hand With Kempinski

After planning a solo international entry, hospitality major Hotel Leela Ventures has now decided on co-branding with its long standing partner Kempinski for the global operations. This could see Leela and Kempenski working on a royalty deal for the first time. Leela Ventures international entry will use the Kempinski brand. Leela is working on overseas ventures in Dubai, Abu Dhabi and in Mauritius via contract management route. Currently, Leela, which has a strategic marketing and sales tie-up with Kempinski, for its domestic properties pays out an annual transaction fee, which is estimated at around 0.9%. The Kempinski brand will basically help it in having many consortia contracting advantages like a much stronger sales & distribution network and better operational assistance.

The Kempenski name will be extended to all the upcoming projects in Delhi, Udaipur, Chennai, Hyderabad and Pune. Currently except The Leela-Goa, which is associated with General Hotel Management (GHM) Kempenski name is associated with all the three Leela properties in Mumbai, Bangalore and Kerala. Chennai property will be unveiled in 2008. The Leela Palace Kempinski Hyderabad and Pune will open in 2009. Hotel Leela Ventures will also become a member of Global Hotel Alliance (GHA), which will further help in generating more business with wider market reach globally. Kempinski is also a GHA member.

ORG Informatics Picks Up 100% Stake In DGIT Solutions

ORG Informatics Ltd has informed that the Company has acquired 100% stake in DGIT Solutions Pte. Ltd., Singapore thus making it as wholly owned subsidiary of the Company.

Further the Company has informed that, the Company is going to have one Extra Ordinary General Meeting (EGM) on February 05, 2007, to consider one more acquisition a part of which is to be settled through issuance of fresh equity in the Company.

Besides above said two acquisition one more acquisition is in process.

Setco Automotive Buys Manufacturing Facility In USA

Setco Automotive Ltd has informed that the Companys subsidiary — Setco Automotive NA Inc. has acquired an auto component manufacturing unit of Haldex Corporation, USA, situated at Paris, Tennessee for a total price consideration of USD 4.9 million on December 28, 2006.

FII Activity

The gross equity purchased was Rs.1,488.50 (in crores), and the gross debt purchased was Nil. The gross equity sold was Rs.1,156.70 (in crores), and the gross debt sold was Nil. The net investment of equity was Rs.331.80 (in crores), and the net debt investment was Nil.

Jet Airways Executes Purchase Agreement With The Boeing Company, USA

Jet Airways India Ltd has informed that in order to maintain and expand the Companys international operations using wide-body aircraft and to deploy the most modern and economically efficient aircraft, the Company has executed a Purchase Agreement with The Boeing Company, USA, for the acquisition of 10 Boeing 787-8 series aircraft for deliveries between July 2011 and December 2012, subject to requisite regulatory approvals.

Under the Purchase Agreement the Company also has the option to substitute other models of Boeing aircraft.

The Company begins taking delivery of the B777-300ER and A330-200 aircraft ordered in September and October 2005 respectively, in March-April 2007.

McNally Bharat Wins Order From Utkal Alumina International

McNally Bharat Engineering Company Ltd has informed that the Company has received an order for supply, erection & commissioning of 2 Units of Evaporation Plant for Alumina Refinery Project at Doraguda, Rayagada, Orissa from Utkal Alumina International Ltd valued at Rs 92.31 crores.

Ess Dee Aluminium Gets Order

Ess Dee Aluminium Ltd has informed that the Company has been rated L1 in the annual reverse auction by Glaxo SmithKline Pharmaceuticals Ltd for procurement of 800 Metric Tonne of Aluminium foil for pharmaceutical packaging for the calendar year 2007.