ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Higher Dividend and Diversifying

Higher Dividend and Diversifying Hansaviek HYDERABAD ASBESTOS CEMENT PRODUCTS is participating in a new project for manufacture of 36,000 tonnes per annum of asbestos cement sheets, promoted by Kerala State Industrial Development Corporation (KSIDC). The cost of the project is estimated at Rs 4.60 crore. A public limited company under the name and style 'Malabar Building Products' is being registered in Kerala to implement the project Total equity share capital of the company will be Rs 1.50 crore. Hyderabad Asbestos proposes to subscribe equity shares in that company upto Rs 61.50 lakh, which would constitute 41 per cent of equity capital. The remaining euquky shares will be subscribed by KSIDC and the public. It is envisaged that Hyderabad Asbestos will also be supplying plant and machinery and rendering technical assistance to the project upon terms and conditions to be mutually agreed. Hyderabad Asbestos is also investing more in Nepal Metal Company, incorporated in Nepal for exploitation of lead and zinc in Nepal, in which it is holding 60,000 preference shares of Nepalese Rs 100 each (equivalent to Indian Rs 45 lakh) alloted to it in consideration of prospecting work done in past years and expenses incurred therefor. In addition, it is also required to hold 25 per cent of the total equity capital of that company as per the arrangement earlier entered into with the Government of Nepal. Approval of the Central government has already been obtained for subscribing/ investing in equity shares of that company, of the face value of Nepalese Rs 2.1 million (equivalent to Indian Rs 15 lakh), to be paid through export of plant and machinery from India. The plant and machinery will be exported in due course. Due to escalation in the project cost, that company has increased its equity capital from Napalese Rs 8.4 million to Nepalese Rs 18 million. Accordingly, Hyderabad Asbestos is now required to subscribe further equity shares of the face value of Nepalese Rs 2.4 million (equivalent to Indian Rs 17 lakh).

TOMCO s Widening Range

TOMCO's Widening Range Hansaviek TATA OIL MILLS COMPACT has been trying to find an effective and long-term means of liberating itself from excessive dependence on manufacture and marketing of the type of products in which its growth is mandatorily restricted by official policies. The management found little time last year to pursue new ideas and avenues of expansion and diversification because of a 141-day strike of employees in 21 out of 27 of its factories and establishments throughout India, followed by continued disruption of work and suspension of operation-lockout at the factory at Sewri, in Bombay, for another 47 days. With its operations back to normal, the company is now taking steps to review and assess all possibilities and options open to it. Meanwhile, in the area of deep-sea fishing, the company has achieved all its short-term objectives in the 20 months which it was allowed to operate trawlers

Higher Profits on Changed Mix

Higher Profits on Changed Mix Hansaviek PEICO ELECTRONICS AND ELEC- TRICA LS has received an industrial, licence for manufacture of high pressure sodium vapour lamps (SON). SON lamp is highly energy effective and reflects the current state of technology in this field pioneered by the collaborators, N V Philips' Gloeilam- penfabn'eken. It will play an important role in public and industrial lighting practices. The company has already received significant orders for lighting installations using this new light source. The company's application for an industrial licence for manufacture of record playing decks and tape transports is under consideration of the government. Production of these items would give a fillip to the production of cassette recorders, stereo amplifiers and sound systems which are largely in the small-scale sector. The company has introduced a number of digital instruments and high frequency oscilloscopes. It expects to introduce, this year, machine monitoring and supervisory systems, for which it has a licence. The company has introduced new varieties of special welding electrodes for nuclear fabrication, power generation, fertilisers and petrochemical industries. It has also introduced a new range of professional quality public address amplifiers, which have received type approval from the Ministry of Defence for use in their own systems.

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