New Conglomerate

New Conglomerate KOTHARI (MADRAS), which has come into being as a result of the merger of three plantation companies (Blue Mountain, Waterfall and Balma- dies) and two textile companies (Kothari Textiles and Adoni Spinning) has a licence for the manufacture of diversify its activities. The company has a licence for the manufacture of electronic components, which is intended to be implemented in the near future. It is also proposed to set up a plant for the manufacture of automobile batteries, industrial train lighting cells and nickel cadmium batteries. A letter of intent has been obtained, and a collaboration agreement has been entered into with a German firm. There is also a proposal to go in for the manufacture of various plastic items, namely rigid PVC pipes, films, containers and heavy-duty hags. The company has also plans to go in for the manufacture of calendered plastic materials and printed plastic materials. It is also proposed to participate in a joint-sector company to be promoted by Gujarat government for the manufacture of rubber tyres and tubes. Gujarat Industrial Investment Corporation has a 'letter of intent' for the annual production of four lakh numbers each of tyres and tubes. Kothari (Madras) will have a substantial holding in the equity capital of the new company. The project cost is estimated at around Rs 14 crores, of which Rs 3 crores will be met out of share capital. A collaboration agreement has been entered into with a well known foreign firm. All those projects are proposed to be located at or near Baroda. In addition, the company also intends to establish a watch factory in Tamil Nadu in collaboration with Timex' of the US.