Corporate Announcements

The Blackstone Group announced an investment of $65 mn in
Hyderabad-based precision engineering company MTAR
Technologies. (BS)
· Amtek Auto acquired UK based Triplex-Ketlon Group, one of
the largest automotive precision machining companies. (BS)
· Indo Tech Transformers received orders worth Rs. 1.05 bn
from Tamil Nadu Electricity Board and Rs. 10 mn from
corporate customers. (BS)
· Reliance Industries announced that it has found more gas in
one of its offshore blocks in the Krishna Godavari basin, off the
east coast. (BS)
· Usha Martin, to concentrate on its core business, has signed
an MoU with Manchester-based B3 Cable Solutions to sell the
entire equity in its subsidiary company UM Cables. (BS)
· Glenmark Pharmaceuticals, to build end-to-end integration,
scale and capabilities in pursuing its generic business, plans to
hive off the same to a new company. (BS)