Tata Steel to install new line at German service centre

Tata Steel plans to install a new line to double the slitting capacity of its service centre at Gelsenkirchen in Germany

Tata Steel Ltd plans to install a new line to double the slitting capacity of its service centre at Gelsenkirchen, in Germany.

Service Centre Gelsenkirchen GmbH currently operates one slitter and one cut-to-length line and the output is largely destined for the automotive industry. The second slitting line, together with the associated expansion of the Gelsenkirchen site, will cost 8.6 million euros.

The new line will have a capacity of 140,000 tonnes per annum, almost double the site's existing slitting capacity. The new slitter will be able to process coil in thicknesses of 0.4-4mm and width up to 1,650mm. It is due to come onstream by early 2012.

Service Centre Gelsenkirchen general manager Jochen Hoefges, said: "Our strategy toward the automotive sector is to increase the volume and technical innovation of the products we offer. The Gelsenkirchen investment is an example of this ambition and will further strengthen Tata Steel's downstream capability to serve this specific sector."

"The new slitting line will raise the service centre's capacity as well as its product portfolio, establishing an Automotive Centre of Excellence. The line is designed to process advanced and ultra high strength steel (AHSS and UHSS) grades, matching the growing demand for more advanced automotive products," he added.

Service Center Gelsenkirchen GmbH was established in 2000 and is part of Tata Steel's European distribution network.

About 90% of its throughput serves the automotive industry. The facility's capacity is 225,000 tonnes per annum at present, including 155,000 tonnes per annum of slitting capacity and 70,000 tonnes per annum of cut-to-length capacity.

On Tuesday, Tata Steel ended 1.94% up at Rs614.55 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.19% to 18,439.65.

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Sonata Software launches car rental management service

According to Sonata Software, MilEdge is developed to support all stages of car rental operations, from front counter control to back office management, thereby creating a cohesive business environment

IT consulting and software services provider Sonata Software Ltd said it has launched car rental management system-'MilEdge'.

Designed for large and medium car rental organisations and auto-leasing companies, MilEdge is a PCI DSS compliant comprehensive web-based solution, Sonata said in a statement.

It is developed to support all stages of car rental operations, from front counter control to back office management, thereby creating a cohesive and efficient business environment, it added.

"MilEdge has been designed to provide quick and easy solution to the car rental businesses, helping them to streamline their operations, respond quickly to the market fluctuations and grow their business faster," Sonata Software head (travel, transportation & logistics business) Mahesh Shastry said.

MilEdge consists of modules from customer enquiry to vehicle purchase, fleet management, bookings, rental agreements, transfers, feet movement tracking and payments. The solution also supports handheld devices like PDAs for counter and operations users to track vehicle movements and fuel dispensing from in-house fuel stations.

On Tuesday, Sonata Software ended 3.19% up at Rs33.95 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.19% to 18,439.65.

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Int’l Women’s Day: One female independent director in cos must

An Assocham study noted that presently out of 1,112 directorships of 100 companies listed on the BSE, only 59 positions-or 5.3%-are held by women. This figure compares with 15% in Canada, 14.5% in the US and 12.2% in Britain

New Delhi: Coinciding with International Women's Day, the corporate affairs ministry today said it would make it mandatory for companies having five or more independent directors to have at least one female independent director, reports PTI.

Companies having five or more independent directors would have to necessarily have at least one female independent director, corporate affairs minister Murli Deora said today.

The proposal would be part of Companies Bill 2009, which is expected to be tabled in the current session of Parliament.

Industry body Associated Chambers of Commerce and Industry (Assocham) in a study titled 'Corporate Women: Close the Gender Gap and Dream Big' on Monday said that women executives would play a fundamental role in shaping market-leading institutions.

However, the study said that presently out of 1,112 directorships of 100 companies listed on the Bombay Stock Exchange, only 59 positions-or 5.3%-are held by women.

This figure compares with 15% in Canada, 14.5% in the US and 12.2% in Britain.

Last month, finance minister Pranab Mukherjee said Companies Bill 2009, which seeks to replace a half-a-century-old Act, would be presented in Parliament in the ongoing session.

"The Companies Bill introduced in Parliament in 2009 has been received by the Parliamentary Standing Committee. The proposed Bill will be introduced in Lok Sabha in current session," Mr Mukherjee had said.

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