Tata Steel to commission Kalinga Nagar plant by March 2013

“We expect European steel demand to grow at around 2% to 3% this financial year, so it is unlikely that our plants would operate at full capacity,” Tata Steel managing director H M Nerurkar said

Tata Steel plans to commission the first phase of its upcoming steel plant at Kalinga Nagar in Odisha by March next year, reports PTI.

“It [the commissioning] will be somewhere between October and March [next year]. The first phase will have a capacity of 3.5 million tonne,” Tata Steel managing director H M Nerurkar said.

He added that the Tata group firm will invest about 400-500 million pounds this year and over the next three financial years on its European unit to continue to upgrade its facilities there.

Due to sluggish demand in Europe, the company expects to run its European units at 80%-85% capacity in current fiscal, he said.

“We expect European steel demand to grow at around 2% to 3% this financial year, so it is unlikely that our plants would operate at full capacity,” Mr Nerurkar said.

In the late afternoon session, Tata Steel was trading at around Rs469.50 per share on the Bombay Stock Exchange, 0.19% down from the previous close.

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Linc Pen to enter premium segment

“We will be launching our brand 'Cruiser' by August. The pens will be priced above Rs1,000 apiece. We are building products under this brand,” Linc Pen and Plastics managing director Deepak Jalan said

Mumbai: Linc Pen and Plastics plans to launch premium ‘Cruiser’ brand of pens, which will cost upwards of Rs1,000 apiece, reports PTI.
 
“We will be launching our brand ‘Cruiser’ by August. The pens will be priced above Rs1,000 apiece. We are building products under this brand,” Linc Pen and Plastics managing director Deepak Jalan told PTI.
 
The premium pen market is dominated by global brands like Parker, Mont Blanc and Cross.
 
“The Cruiser is an in-house brand and the positioning is in the premium category,” he said, adding the pens are made in Germany and Taiwan.
 
The Kolkata-headquartered company also plans to consolidate its pencil brands to two to three brands.
 
“It has been a trend in the industry to have multiple pencil brands from the same company. This is the trend that even we have been following. We have too many pencil brands. We would like to consolidate and focus on two to three brands now,”   he said.
 
The company plans to increase the prices by 3%-5% across select products from May.
 
In the late afternoon trade, Linc Pen was trading at around Rs53.75 per share on the Bombay Stock Exchange, 2.67% up from the previous close.

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Suzlon gets orders from Europe for 276 MW of turbines

Suzlon Group subsidiary, REpower Systems announced cumulative orders of approximately 276 MW across Europe over a two-month period, the company informed the BSE

Mumbai: Wind power major Suzlon Group said it received orders for supplying 276 MW capacity turbines across Europe in the past two months, reports PTI.
 
Suzlon Group subsidiary, REpower Systems announced cumulative orders of approximately 276 MW across Europe over a two-month period, excluding orders announced separately, the company informed the BSE.
 
These cover various orders secured between 11 February 2012 and 15 April 2012 across Italy, France, Germany, Poland and the United Kingdom.
 
“With our focus on technology and customer centricity, we have the right products and services to lead the sector,” Andreas Nauen, CEO, REpower Systems said.
 
“These orders clearly underscore the continuing momentum in the wind sector in developed European markets,” said Tulsi Tanti, chairman, Suzlon Group.
 
The projects include several wind farms in Germany featuring REpowers latest turbine models etc.
 
In the late afternoon trade, Suzlon Energy was trading at around Rs22.75 per share on the Bombay Stock Exchange, 2.99% down from the previous close.

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