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

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Contributions from All Sources

Contributions from All Sources Hansavivek INDIAN OXYGEN, conscious of Government's new industrial policy "which is heavily biased inter alia against subsidiaries of foreign companies and companies which are 'dominant undertakings' within the scope of The Monopolies and Restrictive Trade Practices Act, 1969", has prepared a comprehensive expansion plan for the next few years. The details have not been disclosed, but the chairman, N Dandeker, told shareholders at their annual meeting that the plan envisaged diversification of the company's activities into areas not directly related to the existing manufacturing facilities and products and that it sought to improve the supply position of certain critical industrial raw materials, the shortages of which bad been seriously affecting the country's industrial activities. The new projects, he added, would involve substantial additional investment of capital and had been selected after a careful assessment of the company's own resources as well as the available external assistance. Several earlier applications of the company were pending with government for a long period and, except for a licence to manufacture open arc continuous electrodes at the Ambattur factory, no proposal had been approved.

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