14 May 2008

Blue Star is planning to set up a new refrigerator facility at Uttarakhand in the next 18 months, reports Economic Times.

The facility would have a capacity to manufacture products worth Rs 5 billion. The company is also looking forward to establish an assembly unit in the Middle East for central air-conditioning machines.

Blue Star has completed the construction of its fifth plant at Wada in Maharashtra at an investment of Rs 500 million and it would commission the unit in one month. The plant would produce central and telecom air conditioners (ACs) worth Rs 5 billion per annum.

The company is also planning to set up an export oriented unit (EOU) inside the Wada plant, which would be ready within one year after the due approval processes get over.

The company is expecting over 35% growth in its revenue during the current financial year.

Shares of the company closed down Rs 5.85, or 1.32%. at Rs 438.8. The total volume of shares traded at the BSE was 20,493. (Tuesday, 13 May 2008)

News Source: http://www.myiris.com

12 May 2008

(RTTNews) - Monday, JBM Auto said that the company entered into a joint venture agreement with Ashok Leyland for supply of sheet metal components for their G90 Cab and G-90 FES.

The joint venture company would set up state of art facilities at Pant Nagar, Uttarakhand at an estimated cost of Rs.100 crores and would have large pressing and welding facilities.

JBM Auto would hold 74% and Ashok Leyland would hold the rest in the joint venture that would start commercial operations from 2010.

News Source: http://www.rttnews.com