Press release from Business Wire India
Source: Frost & Sullivan
Wednesday, October 31, 2012 05:37 PM IST (12:07 PM GMT)
Editors: General: Consumer interest, Economy, People; Business: Business services, Information technology, Major diversified industrial groups; Technology
--------------------------------------------------
Frost & Sullivan Bullish on Digital Cable Opportunity, but Metros Far from 100 percent Digitization
An in-depth insight on Digitization Services of TV in India published by Frost & Sullivan
Mumbai, Maharashtra, India, Wednesday, October 31, 2012 -- (Business Wire India) -- India stands strong as the third largest in cable TV penetration in the world with 85 percent of total TV households, and 126 million cable subscribers. The tightening of Government rules for cable TV digitization, along with possible increase in foreign direct investment (FDI) inflows and consolidation will prod over 30 percent growth for digital cable till 2015.
However, it is noted that several cable multiple-system operators (MSOs) in India are more than likely to miss the Government-proposed October-November 2012 digital deadline, which mandates use of set-top boxes (STBs) in metros. Frost & Sullivan estimates the current penetration rate at a little over 25 percent, or 77 lakh subscribers. According to Ms. Vidya Nath, Research Director, Frost & Sullivan, "The current shortfall will require an investment of INR 3,000 Crore, at least, in metros. Though current digital penetration data reports from the Ministry of Information and Broadcasting are implausible, we are bullish on the future growth potential of the cable TV market in India."
Cable digitization in India holds immense business potential in terms of service and investment. It will unlock new revenue streams for the TV industry, with positive impact on the broadband market as well due to upcoming TV-Internet services. Multiple service offerings, spectrum efficiencies, and transparent system operations are expected to bring about a revolution in digitization of television services in India, at the same time creating an advantage for broadcasters, MSOs, STB manufacturers, consumers, and stakeholders.
"While strong Government hand in regulatory mandates will drive faster penetration, the cable industry needs to take initiatives from within to speed-up implementation," observes Nath. "Digitization bodes well for the cable and the broadcast industry in the long term. A more thorough path of evangelism and consolidation is what is required to encourage transition toward digitization through the local cable operators' (LCOs') network."
At present, investment requirements for digitization are very high in India and hence the process requires extensive subsidies to produce and purchase equipment, which eventually compels local cable operators to consolidate. According to Frost & Sullivan, FDI in digitization would result in higher returns and rise in broadcast, cable, and direct to home (DTH) services in India. Also, it will leverage the opportunity for technology support, subscriber acquisition, and strengthen smaller players.
Another area where Frost & Sullivan identifies prospect for digitization is the approach toward switchover. The transfer process should be executed strategically, as the technology used for switchover in the first phase would act like a barometer and help determine quality of switchover in the entire region. In India, the transition process in areas that solely rely on Digital Terrestrial Television (DTT) should preferably begin with low-population densities. The switchover policy in India is expected to occur in four phases, with the final phase due for completion by December 31, 2014.
Frost & Sullivan has published an in-depth insight on Digitization Services of TV in India, if you are interested in more information, please send an email with your contact details to Caroline Lewis/Akshata Mhatre, Corporate Communications, Frost & Sullivan, at caroline.lewis@frost.com/akshatam@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by e-mail.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
-- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
-- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
CONTACT DETAILS
Caroline Lewis, Corporate Communications - South Asia, Frost & Sullivan, +91 98217 37935, caroline.lewis@frost.com
Akshata Mhatre, Corporate Communications - South Asia, Frost & Sullivan, +91 (22) 6607 2020, akshatam@frost.com
Nimisha Iyer,Corporate Communications - South Asia, Middle East and North Africa, Frost & Sullivan, +91 98200 50519, niyer@frost.com
KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BUSINESS SERVICES, IT, GROUPS, TECHNOLOGY
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Wednesday, October 31, 2012
BWI: Diwali Celebrations to Get Bigger and Better with Getit
Press release from Business Wire India
Source: GETIT
Wednesday, October 31, 2012 05:06 PM IST (11:36 AM GMT)
Editors: General: Consumer interest, Entertainment, Lifestyle, People; Business: Business services, Information technology, Media & entertainment, Retailers, Travel & tourism; Technology
--------------------------------------------------
Diwali Celebrations to Get Bigger and Better with Getit
GETIT upgraded its microsite for all information you need on Diwali
New Delhi, Delhi, India, Wednesday, October 31, 2012 -- (Business Wire India) -- The mega festival of brightness over darkness and victory of good over evil: Diwali is incomplete without Firecrackers, Jewellery, Light & Lamps, Decorations, Sweets and Shopping. GETIT Infoservices Pvt Ltd, India's leading digital marketing company has upgraded its microsite http://diwali.getit.in/ especially for the festival where you can send gifts, do shopping, watch live videos and play contests. You can also socialize with your dear and near ones.
The website focuses on the grand celebration of Diwali and the uniqueness of the site gives user a platform for all those things which can make your festival more special. Indulge into the festivity with lot of colorful images and videos. Users can also shop and Break barriers and send flowers, Sweets and Gifts to your family and friends. You can also learn involves scrumptious recipe of scrumptious dishes. The microsite offers unique features such as online gifting, interesting deals from all major cities, special recipes for festival, electronics, decoration, clothes & jewellery, gift coupons, e-card and holiday packages.
The microsite would also serve as the online platform where people would be able to share their pictures, videos, songs, stories and much more for Diwali. People can also upload pictures and participate in "Best photo contest online".
The key offering of this microsite lies in the planned tours. People interested in taking a trip during the festive season would be able to plan their entire trip with the help of the microsite. The GETIT microsite also offers tour packages and travel deals of different destinations in North India. The users can also make tickets, book hotel etc., thus helping you make most of your holidays rather than running around making arrangements.
Commenting on the launch, Sidharth Gupta, CEO, GETIT Infoservices Pvt. Ltd. said,
"Festivals are the best time to get closer to our customers by giving them reliable and useful services. There is a lot of shopping and purchasing which takes place during Diwali. We at GETIT wanted to provide a dedicated microsite for the people, wherein they can access and get all the in-depth information on the best deals, promotional offers and discounts. This microsite will not only guide the customers across cities, but also make Diwali more delightful".
About GETIT Infoservices Pvt Ltd
GETIT Infoservices is India's leading digital marketing company offering a platform for Local search, Classifieds, Micro Communities, Deals etc. The company operates in more than 100 cities in India and helps to generate quality leads for SME's. More than 5 million consumers access GETIT's services every month to connect to suppliers of various services and to Buy/Sell products & services.
GETIT is the leading provider of Mobile Apps in India for local search with over 1.5 million consumers uses its Apps across various devices/platforms including iOS, BlackBerry, Symbian, Java, Android and Windows Phone. In addition it has a 24*7 voice service on 44444444 where consumers can call to Buy/Sell anything.
GETIT has 25 year+ legacy of servicing Indian SME's and helping grow their business through quality leads and bringing to them new customers.
GETIT Products
1. Local Search- www.GETIT.in
2. Classifieds- www.freeads.in
3. Hot Deals- www.GETIThotdeals.in
4. Apps Download- www.GETIT.in/apps/mobile
5. Malls- http://GETITmalls.com
6. Micro communities
-- http://food.GETIT.in
-- http://fashion.GETIT.in
-- http://weddings.GETIT.in
-- http://youngmoms.GETIT.in
-- http://cars.GETIT.in
7. Micro sites
--http://onam.GETIT.in
--http://valentines.GETIT.in
--http://diwali.GETIT.in
--http://durgapuja.GETIT.in
To view the photograph, please click on the link given below:
Diwali Microsite by GETIT
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/IMG_1(32).jpg
IMG_1(32).jpg
CONTACT DETAILS
Nishant Nirmal, +91 9911162876
Neha Chandra, +91 9818055857
KEYWORDS
CONSUMER, ENTERTAINMENT, LIFESTYLE, PEOPLE, BUSINESS SERVICES, IT, MEDIA, RETAIL, TRAVEL, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: GETIT
Wednesday, October 31, 2012 05:06 PM IST (11:36 AM GMT)
Editors: General: Consumer interest, Entertainment, Lifestyle, People; Business: Business services, Information technology, Media & entertainment, Retailers, Travel & tourism; Technology
--------------------------------------------------
Diwali Celebrations to Get Bigger and Better with Getit
GETIT upgraded its microsite for all information you need on Diwali
New Delhi, Delhi, India, Wednesday, October 31, 2012 -- (Business Wire India) -- The mega festival of brightness over darkness and victory of good over evil: Diwali is incomplete without Firecrackers, Jewellery, Light & Lamps, Decorations, Sweets and Shopping. GETIT Infoservices Pvt Ltd, India's leading digital marketing company has upgraded its microsite http://diwali.getit.in/ especially for the festival where you can send gifts, do shopping, watch live videos and play contests. You can also socialize with your dear and near ones.
The website focuses on the grand celebration of Diwali and the uniqueness of the site gives user a platform for all those things which can make your festival more special. Indulge into the festivity with lot of colorful images and videos. Users can also shop and Break barriers and send flowers, Sweets and Gifts to your family and friends. You can also learn involves scrumptious recipe of scrumptious dishes. The microsite offers unique features such as online gifting, interesting deals from all major cities, special recipes for festival, electronics, decoration, clothes & jewellery, gift coupons, e-card and holiday packages.
The microsite would also serve as the online platform where people would be able to share their pictures, videos, songs, stories and much more for Diwali. People can also upload pictures and participate in "Best photo contest online".
The key offering of this microsite lies in the planned tours. People interested in taking a trip during the festive season would be able to plan their entire trip with the help of the microsite. The GETIT microsite also offers tour packages and travel deals of different destinations in North India. The users can also make tickets, book hotel etc., thus helping you make most of your holidays rather than running around making arrangements.
Commenting on the launch, Sidharth Gupta, CEO, GETIT Infoservices Pvt. Ltd. said,
"Festivals are the best time to get closer to our customers by giving them reliable and useful services. There is a lot of shopping and purchasing which takes place during Diwali. We at GETIT wanted to provide a dedicated microsite for the people, wherein they can access and get all the in-depth information on the best deals, promotional offers and discounts. This microsite will not only guide the customers across cities, but also make Diwali more delightful".
About GETIT Infoservices Pvt Ltd
GETIT Infoservices is India's leading digital marketing company offering a platform for Local search, Classifieds, Micro Communities, Deals etc. The company operates in more than 100 cities in India and helps to generate quality leads for SME's. More than 5 million consumers access GETIT's services every month to connect to suppliers of various services and to Buy/Sell products & services.
GETIT is the leading provider of Mobile Apps in India for local search with over 1.5 million consumers uses its Apps across various devices/platforms including iOS, BlackBerry, Symbian, Java, Android and Windows Phone. In addition it has a 24*7 voice service on 44444444 where consumers can call to Buy/Sell anything.
GETIT has 25 year+ legacy of servicing Indian SME's and helping grow their business through quality leads and bringing to them new customers.
GETIT Products
1. Local Search- www.GETIT.in
2. Classifieds- www.freeads.in
3. Hot Deals- www.GETIThotdeals.in
4. Apps Download- www.GETIT.in/apps/mobile
5. Malls- http://GETITmalls.com
6. Micro communities
-- http://food.GETIT.in
-- http://fashion.GETIT.in
-- http://weddings.GETIT.in
-- http://youngmoms.GETIT.in
-- http://cars.GETIT.in
7. Micro sites
--http://onam.GETIT.in
--http://valentines.GETIT.in
--http://diwali.GETIT.in
--http://durgapuja.GETIT.in
To view the photograph, please click on the link given below:
Diwali Microsite by GETIT
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/IMG_1(32).jpg
IMG_1(32).jpg
CONTACT DETAILS
Nishant Nirmal, +91 9911162876
Neha Chandra, +91 9818055857
KEYWORDS
CONSUMER, ENTERTAINMENT, LIFESTYLE, PEOPLE, BUSINESS SERVICES, IT, MEDIA, RETAIL, TRAVEL, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Carnation Launches its Insurance Solutions Business
Press release from Business Wire India
Source: Carnation Auto
Wednesday, October 31, 2012 04:31 PM IST (11:01 AM GMT)
Editors: General: Consumer interest, People; Business: Automotives, Banking & financial services, Business services, Financial Analyst; Automotive
--------------------------------------------------
Carnation Launches its Insurance Solutions Business
New Delhi, Delhi, India, Wednesday, October 31, 2012 -- (Business Wire India) -- -- Comprehensive Insurance Solutions with Pan India Presence
-- Ability to sell Insurance Products from over 20 different Insurance providers
-- Cashless facilities across all 22 Car Care Hubs in 16 Cities
-- Strategy of "repair not replace" helping bring down cost of ownerships and Insurance claims ratio
Carnation Auto, India's pioneering independent multi-brand auto solutions network, launched its Insurance Solutions vertical on the receipt of it's Insurance broking license. Carnation Insurance, will now be able to sell not only General Insurance products like car insurance but also life insurance products. The company will provide the best insurance plans along with comprehensive solutions to all current and prospective customers. With this, Carnation has become the only independent multi-brand auto solutions provider in the Indian auto industry to offer 360 degrees car care solutions across the country.
Auto insurance is the biggest contributor to the Insurance industry with a 40-45% revenue share. The Indian Insurance sector is expected to grow at a CAGR of 15-20% over the next 2-3 years; making it the right time for Carnation; already an established leader in the organized multi brands marketplace, to enter this exciting space. As a broker, Carnation's expertise will lie in offering prospective customers the right products to match their individual needs at the best possible rates. The company will provide cashless claims facilities across its existing nationwide car service and repair network in cities like Bangalore, Delhi, Gurgaon, Hyderabad, Mumbai, and Pune to name a few. Carnation will also leverage its online presence to create awareness of insurance products and match customer requirements with suitable solutions.
Mr. Jagdish Khattar, Chairman & Managing Director, Carnation Auto on the launch of the business said, "We were already the pioneers in the organised multi-brand auto solutions segment. The addition of the insurance license gives us the perfect opportunity to provide comprehensive car care solutions to our customers. We now provide car service and repair, car spa, buying and selling of used cars, new cars sales, accessories, workshop on wheels and now best in class general and life insurance solutions all under one roof. Our strength lies in the fact that our insurance SMEs (Subject Matter Experts) will be able to align our customers' needs and requirements with the products offered by over 20 Public & Private Sector Insurance Companies in India. We will also utilize the web to empower car owners to make informed insurance purchase decision." He further added that, "In the last 4-years we have served over 4+ lakh customers, and several thousands of them have availed of our cashless insurance claims facility through our 22 hubs spread across India."
About Carnation Auto:
Carnation Auto, an initiative of Mr. Jagdish Khattar, is India's leading independent multi-brand automobile sales and service network with a state-of-the-art infrastructure for car services, and related solutions like accessories, insurance, WoW (Workshop on Wheels) and certified pre-owned cars. Carnation has its extensive network spread across the country, with the aim of enhancing the overall experience of owning a car and to optimize the cost of ownership.
Since its launch in October 2008, Carnation Auto has accomplished significant milestones in its short journey including setting up 22 operational auto solutions hubs, with a collective count of 635 bays, spread across 16 cities. The Company has 22 Pre-Owned Cars Showrooms, 50+ Workshop-on-Wheels and has delivered over 4+ lakh cars to-date.
For further information, please visit http://www.carnation.in / http://www.carnationcorp.com.
CONTACT DETAILS
Abhishek Upadhayay, Carnation Auto, +91 (85) 27444155, abhishek.upadhayay@carnation.in
Sunny Kataria, Carnation Auto, +91 9717001358, sunny.kataria@carnation.in/
KEYWORDS
CONSUMER, PEOPLE, AUTOMOTIVE, BANKING, BUSINESS SERVICES, Financial Analyst, AUTOMOTIVE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Carnation Auto
Wednesday, October 31, 2012 04:31 PM IST (11:01 AM GMT)
Editors: General: Consumer interest, People; Business: Automotives, Banking & financial services, Business services, Financial Analyst; Automotive
--------------------------------------------------
Carnation Launches its Insurance Solutions Business
New Delhi, Delhi, India, Wednesday, October 31, 2012 -- (Business Wire India) -- -- Comprehensive Insurance Solutions with Pan India Presence
-- Ability to sell Insurance Products from over 20 different Insurance providers
-- Cashless facilities across all 22 Car Care Hubs in 16 Cities
-- Strategy of "repair not replace" helping bring down cost of ownerships and Insurance claims ratio
Carnation Auto, India's pioneering independent multi-brand auto solutions network, launched its Insurance Solutions vertical on the receipt of it's Insurance broking license. Carnation Insurance, will now be able to sell not only General Insurance products like car insurance but also life insurance products. The company will provide the best insurance plans along with comprehensive solutions to all current and prospective customers. With this, Carnation has become the only independent multi-brand auto solutions provider in the Indian auto industry to offer 360 degrees car care solutions across the country.
Auto insurance is the biggest contributor to the Insurance industry with a 40-45% revenue share. The Indian Insurance sector is expected to grow at a CAGR of 15-20% over the next 2-3 years; making it the right time for Carnation; already an established leader in the organized multi brands marketplace, to enter this exciting space. As a broker, Carnation's expertise will lie in offering prospective customers the right products to match their individual needs at the best possible rates. The company will provide cashless claims facilities across its existing nationwide car service and repair network in cities like Bangalore, Delhi, Gurgaon, Hyderabad, Mumbai, and Pune to name a few. Carnation will also leverage its online presence to create awareness of insurance products and match customer requirements with suitable solutions.
Mr. Jagdish Khattar, Chairman & Managing Director, Carnation Auto on the launch of the business said, "We were already the pioneers in the organised multi-brand auto solutions segment. The addition of the insurance license gives us the perfect opportunity to provide comprehensive car care solutions to our customers. We now provide car service and repair, car spa, buying and selling of used cars, new cars sales, accessories, workshop on wheels and now best in class general and life insurance solutions all under one roof. Our strength lies in the fact that our insurance SMEs (Subject Matter Experts) will be able to align our customers' needs and requirements with the products offered by over 20 Public & Private Sector Insurance Companies in India. We will also utilize the web to empower car owners to make informed insurance purchase decision." He further added that, "In the last 4-years we have served over 4+ lakh customers, and several thousands of them have availed of our cashless insurance claims facility through our 22 hubs spread across India."
About Carnation Auto:
Carnation Auto, an initiative of Mr. Jagdish Khattar, is India's leading independent multi-brand automobile sales and service network with a state-of-the-art infrastructure for car services, and related solutions like accessories, insurance, WoW (Workshop on Wheels) and certified pre-owned cars. Carnation has its extensive network spread across the country, with the aim of enhancing the overall experience of owning a car and to optimize the cost of ownership.
Since its launch in October 2008, Carnation Auto has accomplished significant milestones in its short journey including setting up 22 operational auto solutions hubs, with a collective count of 635 bays, spread across 16 cities. The Company has 22 Pre-Owned Cars Showrooms, 50+ Workshop-on-Wheels and has delivered over 4+ lakh cars to-date.
For further information, please visit http://www.carnation.in / http://www.carnationcorp.com.
CONTACT DETAILS
Abhishek Upadhayay, Carnation Auto, +91 (85) 27444155, abhishek.upadhayay@carnation.in
Sunny Kataria, Carnation Auto, +91 9717001358, sunny.kataria@carnation.in/
KEYWORDS
CONSUMER, PEOPLE, AUTOMOTIVE, BANKING, BUSINESS SERVICES, Financial Analyst, AUTOMOTIVE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: India’s First Full HD Television Channel ‘India Food Network’ Joins Hands with UTV Spotboy and AKFPL to Create ‘The Asli Chicken Khurana’ Recipe
Press release from Business Wire India
Source: India Food Network
Wednesday, October 31, 2012 04:40 PM IST (11:10 AM GMT)
Editors: General: Entertainment, Food & drink, People; Business: Business services, Media & entertainment
--------------------------------------------------
India's First Full HD Television Channel 'India Food Network' Joins Hands with UTV Spotboy and AKFPL to Create 'The Asli Chicken Khurana' Recipe
Mumbai, Maharashtra, India, Wednesday, October 31, 2012 -- (Business Wire India) -- UTV Spotboy and AKFPL (Anurag Kashyap Films Pvt Ltd), producers of Luv Shuv Tey Chicken Khurana have joined hands with India's First Full HD Television Channel India Food Network's (IFN) available on YouTube to create an exclusive rendering of the popular Chicken Khurana recipe by its select Chefs.
IFN's chefs Joel D Souza, Kalyan Karmakar, Veena Gidwani and Archana Arte, took up the challenge by coming up with their best interpretations of the Chicken Khurana recipe.
While some chefs prepared an authentic Punjabi Dhaba dish, some added a twist to popular dishes like Chicken Tikka and Tandoori Chicken. The chefs used magnanimous quantities of Punjabi ingredients and improvised to get the perfect flavours.
"The entire cooking session saw tremendous ingenuity on part of our chefs. We could never imagine that you could replicate a dhaba style cooking in your kitchen. One of our chefs, Archana, actually used charcoal to cook the chicken and create that asli Chicken Khurana feel," said Anagha Rajadhyaksha, Director, Acquisitions, Ping Digital Network.
Luv Shuv Tey Chicken Khurana is the story of a quirky Punjabi family in pursuit of a secret recipe that will enable them to reclaim their pride and wealth. The film directed by Sameer Sharma stars Kunal Kapoor, Huma Qureshi and will hit theaters on November 2, 2012.
About India Food Network (IFN)
India Food Network available on YouTube is India's first full HD television food network & a step-by-step guide to simple and delicious home cooking. From regional Indian cuisine to popular dishes from around the globe, the focus is on making cooking simple and accessible to all, including beginners. Shot and produced in natural home environment;IFN videos have loads of quick tips and easy tricks to get that amazing dish!
Website: www.indiafoodnetwork.in
Twitter: @infoodnetwork
YouTube: www.youtube.com/indiafoodnetwork
CONTACT DETAILS
Kishor Barua, BrandTalk PR, +91 9594160314, Kishor@brandtalkpr.com
KEYWORDS
ENTERTAINMENT, FOOD, PEOPLE, BUSINESS SERVICES, MEDIA
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: India Food Network
Wednesday, October 31, 2012 04:40 PM IST (11:10 AM GMT)
Editors: General: Entertainment, Food & drink, People; Business: Business services, Media & entertainment
--------------------------------------------------
India's First Full HD Television Channel 'India Food Network' Joins Hands with UTV Spotboy and AKFPL to Create 'The Asli Chicken Khurana' Recipe
Mumbai, Maharashtra, India, Wednesday, October 31, 2012 -- (Business Wire India) -- UTV Spotboy and AKFPL (Anurag Kashyap Films Pvt Ltd), producers of Luv Shuv Tey Chicken Khurana have joined hands with India's First Full HD Television Channel India Food Network's (IFN) available on YouTube to create an exclusive rendering of the popular Chicken Khurana recipe by its select Chefs.
IFN's chefs Joel D Souza, Kalyan Karmakar, Veena Gidwani and Archana Arte, took up the challenge by coming up with their best interpretations of the Chicken Khurana recipe.
While some chefs prepared an authentic Punjabi Dhaba dish, some added a twist to popular dishes like Chicken Tikka and Tandoori Chicken. The chefs used magnanimous quantities of Punjabi ingredients and improvised to get the perfect flavours.
"The entire cooking session saw tremendous ingenuity on part of our chefs. We could never imagine that you could replicate a dhaba style cooking in your kitchen. One of our chefs, Archana, actually used charcoal to cook the chicken and create that asli Chicken Khurana feel," said Anagha Rajadhyaksha, Director, Acquisitions, Ping Digital Network.
Luv Shuv Tey Chicken Khurana is the story of a quirky Punjabi family in pursuit of a secret recipe that will enable them to reclaim their pride and wealth. The film directed by Sameer Sharma stars Kunal Kapoor, Huma Qureshi and will hit theaters on November 2, 2012.
About India Food Network (IFN)
India Food Network available on YouTube is India's first full HD television food network & a step-by-step guide to simple and delicious home cooking. From regional Indian cuisine to popular dishes from around the globe, the focus is on making cooking simple and accessible to all, including beginners. Shot and produced in natural home environment;IFN videos have loads of quick tips and easy tricks to get that amazing dish!
Website: www.indiafoodnetwork.in
Twitter: @infoodnetwork
YouTube: www.youtube.com/indiafoodnetwork
CONTACT DETAILS
Kishor Barua, BrandTalk PR, +91 9594160314, Kishor@brandtalkpr.com
KEYWORDS
ENTERTAINMENT, FOOD, PEOPLE, BUSINESS SERVICES, MEDIA
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: German Testing and Certification Giant TÜV SÜD Expands Footprint in India with state-of-the-art Consumer Product Testing Lab
Press release from Business Wire India
Source: TÜV SÜD South Asia Pvt. Ltd.
Wednesday, October 31, 2012 03:23 PM IST (09:53 AM GMT)
Editors: General: Consumer interest, Food & drink, People; Business: Business services, Chemicals, Major diversified industrial groups; Technology
--------------------------------------------------
German Testing and Certification Giant TÜV SÜD Expands Footprint in India with state-of-the-art Consumer Product Testing Lab
Gurgaon, Haryana, India, Wednesday, October 31, 2012 -- (Business Wire India) -- -- Lab to offer holistic testing, inspection and certification services for the food, chemical, textiles, leather and hardlines sectors under one roof
-- Lab spreads across four levels and is equipped with the latest technology
-- TÜV SÜD South Asia expanding its footprint in India with its 11th laboratory in the country
TÜV SÜD, global leaders in testing, inspection and certification services, today inaugurated a state-of-the-art Consumer Product Testing laboratory at Gurgaon, their largest testing laboratory across India, Bangladesh and Sri Lanka. The lab is equipped with the latest technology, an ultra-modern microbiological lab, a chemical lab with high precision equipments like ICP-MS, UPLC MS,GCMS and experts with deep domain knowledge. The lab will extend services across sectors such as food, chemical, textile, leather, and hardlines such as toys, jewellery, cookware.
The lab has been inaugurated to cater to the testing, inspection and certification needs of the Indian manufacturing industry, which has recently gained major impetus and is projected to grow exponentially. Companies in the industry have recognised the need for superior quality standardisation and certifications in order to increase domestic production and to ensure global quality standards for exports. TÜV SÜD's Gurgaon lab aims to further expedite growth of the industry by offering world class testing solutions, ensuring international safety standards and managing turnaround times in a cost effective manner.
"Today, consumers in India and around the globe are increasingly demanding highest quality products. As a result, Indian industries are constantly seeking expert advice to strike a balance between quality, profitability and sustainability. Having recognised this need, TÜV SÜD is investing in superior labs in India, where we offer testing solutions and utilise our multidisciplinary expert pool to ensure that businesses run at maximum efficiency," said Dr. Axel Stepken, Chairman of the Board of Management, TÜV SÜD AG, at the inauguration of the lab.
"The opening of the lab in Gurgaon is a significant milestone for the company, and one of the most important investments in 2012. Among other key sectors, the lab will cater to the areas with the highest growth potential such as food and textile, which have been estimated to grow in India to US $200 billion and US $ 100 billion respectively by 2015. The lab will ensure testing of international standards of quality and safety for local as well as export consumption", added Niranjan Nadkarni, Chief Executive Officer, TÜV SÜD South Asia.
i TÜV SÜD is a leading international service organization catering to the strategic business segments INDUSTRY, MOBILITY and CERTIFICATION. Over 17,000 employees are represented at more than 800 locations throughout the world. Optimizing technology, systems and know-how, the interdisciplinary specialist teams act as process partners to strengthen their customers' competitiveness.
TÜV SÜD South Asia is the leading quality certification, inspection and testing company with presence across India, Bangladesh and Sri Lanka. With an annual turnover (2011) of close to EUR 20 million and talent pool of more than 1200 employees TÜV SÜD South Asia has serviced over 10,000 clients to date. It is present at 28 locations including 11 labs across the three countries. Today, TÜV SÜD is an internationally competent source for solutions in the field of auto, plant engineering, environmental technology, food safety, textile & hardlines like toy testing, infrastructure consultancy and technical as well as soft-skills training.
Website: www.tuv-sud.in
CONTACT DETAILS
Preeti Hoon, Edelman India , +91 9987037821, Preeti.Hoon@edelman.com
Siddharth Panicker, Edelman India, +91 9820857522, siddharth.panicker@edelman.com
Shyamli Biswas, TÜV SÜD South Asia, +91 7738055071, shyamli.biswas@tuv-sud.in
Avijit Chakrovorty, TÜV SÜD South Asia, +91 7738050823, Avijit.chakrovorty@tuv-sud.in
KEYWORDS
CONSUMER, FOOD, PEOPLE, BUSINESS SERVICES, CHEMICALS, GROUPS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
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Source: TÜV SÜD South Asia Pvt. Ltd.
Wednesday, October 31, 2012 03:23 PM IST (09:53 AM GMT)
Editors: General: Consumer interest, Food & drink, People; Business: Business services, Chemicals, Major diversified industrial groups; Technology
--------------------------------------------------
German Testing and Certification Giant TÜV SÜD Expands Footprint in India with state-of-the-art Consumer Product Testing Lab
Gurgaon, Haryana, India, Wednesday, October 31, 2012 -- (Business Wire India) -- -- Lab to offer holistic testing, inspection and certification services for the food, chemical, textiles, leather and hardlines sectors under one roof
-- Lab spreads across four levels and is equipped with the latest technology
-- TÜV SÜD South Asia expanding its footprint in India with its 11th laboratory in the country
TÜV SÜD, global leaders in testing, inspection and certification services, today inaugurated a state-of-the-art Consumer Product Testing laboratory at Gurgaon, their largest testing laboratory across India, Bangladesh and Sri Lanka. The lab is equipped with the latest technology, an ultra-modern microbiological lab, a chemical lab with high precision equipments like ICP-MS, UPLC MS,GCMS and experts with deep domain knowledge. The lab will extend services across sectors such as food, chemical, textile, leather, and hardlines such as toys, jewellery, cookware.
The lab has been inaugurated to cater to the testing, inspection and certification needs of the Indian manufacturing industry, which has recently gained major impetus and is projected to grow exponentially. Companies in the industry have recognised the need for superior quality standardisation and certifications in order to increase domestic production and to ensure global quality standards for exports. TÜV SÜD's Gurgaon lab aims to further expedite growth of the industry by offering world class testing solutions, ensuring international safety standards and managing turnaround times in a cost effective manner.
"Today, consumers in India and around the globe are increasingly demanding highest quality products. As a result, Indian industries are constantly seeking expert advice to strike a balance between quality, profitability and sustainability. Having recognised this need, TÜV SÜD is investing in superior labs in India, where we offer testing solutions and utilise our multidisciplinary expert pool to ensure that businesses run at maximum efficiency," said Dr. Axel Stepken, Chairman of the Board of Management, TÜV SÜD AG, at the inauguration of the lab.
"The opening of the lab in Gurgaon is a significant milestone for the company, and one of the most important investments in 2012. Among other key sectors, the lab will cater to the areas with the highest growth potential such as food and textile, which have been estimated to grow in India to US $200 billion and US $ 100 billion respectively by 2015. The lab will ensure testing of international standards of quality and safety for local as well as export consumption", added Niranjan Nadkarni, Chief Executive Officer, TÜV SÜD South Asia.
i TÜV SÜD is a leading international service organization catering to the strategic business segments INDUSTRY, MOBILITY and CERTIFICATION. Over 17,000 employees are represented at more than 800 locations throughout the world. Optimizing technology, systems and know-how, the interdisciplinary specialist teams act as process partners to strengthen their customers' competitiveness.
TÜV SÜD South Asia is the leading quality certification, inspection and testing company with presence across India, Bangladesh and Sri Lanka. With an annual turnover (2011) of close to EUR 20 million and talent pool of more than 1200 employees TÜV SÜD South Asia has serviced over 10,000 clients to date. It is present at 28 locations including 11 labs across the three countries. Today, TÜV SÜD is an internationally competent source for solutions in the field of auto, plant engineering, environmental technology, food safety, textile & hardlines like toy testing, infrastructure consultancy and technical as well as soft-skills training.
Website: www.tuv-sud.in
CONTACT DETAILS
Preeti Hoon, Edelman India , +91 9987037821, Preeti.Hoon@edelman.com
Siddharth Panicker, Edelman India, +91 9820857522, siddharth.panicker@edelman.com
Shyamli Biswas, TÜV SÜD South Asia, +91 7738055071, shyamli.biswas@tuv-sud.in
Avijit Chakrovorty, TÜV SÜD South Asia, +91 7738050823, Avijit.chakrovorty@tuv-sud.in
KEYWORDS
CONSUMER, FOOD, PEOPLE, BUSINESS SERVICES, CHEMICALS, GROUPS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Polaris Launches Intellect Algorithmic Liquidity Solution at SIBOS 2012
Press release from Business Wire India
Source: Polaris Financial Technology Ltd.
Wednesday, October 31, 2012 01:50 PM IST (08:20 AM GMT)
Editors: General: People; Business: Banking & financial services, Business services, Financial Analyst; Technology
--------------------------------------------------
Polaris Launches Intellect Algorithmic Liquidity Solution at SIBOS 2012
Osaka, Japan, New York , United States, London, United Kingdom, Singapore (APAC) and Chennai, Tamil Nadu, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Polaris Financial Technology Ltd (POLS.BO), a leading global Financial Technology Company, today announced the launch of IntellectTM Algorithmic Liquidity Solution at SIBOS 2012 in Osaka, Japan.
Polaris' Intellect Algorithmic Liquidity Solution is a financial technology innovation that utilizes advanced mathematical models for making transaction decisions in liquidity management, thereby erasing transaction costs and allowing treasury managers to take control of their global liquidity. The rules built into liquidity models attempt to determine the optimal amount of funds to sweep or pool one account at a time.
Polaris has developed various canned strategies that a bank/corporate customer can pick, choose and run for managing liquidity like IEF, Multi-Currency Pooling, Multi-Bank Cash Concentration, Programmed Inter Company Lending and Automated Investment Sweeps.
The solution automates cross border, cross currency and cross bank liquidity management with no manual intervention. Surplus funds can be managed using pre-configured programs that run 24 X 7, managing funds in a 'follow the sun' mode. The resultant advantages of Algorithmic Liquidity Solution include best returns on idle balances and increased transparency for regulatory compliance. The solution provides an ideal platform for development of customized models with high level collaboration between banks and corporate customers as algorithms are meant to meet the liquidity objectives of the Corporate Treasurer.
Speaking at the launch, Mr. Uppili Srinivasan, Head -Intellect Global Transaction Banking, Polaris Financial Technology Ltd said, "We are delighted to launch Intellect Algorithmic Liquidity Solution as it enables the evolution of our banking customer from a peripheral bank to a treasury bank. The solution increases speed and flexibility enabling treasurers to manage their funds spread across the world. Given the global economic conditions, every minute counts and algorithmic liquidity puts technology to work to manage volatility at zero or fully hedged risk. To provide more intelligent investment decisions, banks and financial institutions can utilize Polaris' Algorithmic Liquidity Solution that brings with it foresight to predict forward cash positions and suggest best investment avenues."
About Polaris Financial Technology Ltd
Polaris Financial Technology Ltd (formerly known as Polaris Software Lab Ltd) (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 13,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, Intellect GUB M180. Intellect is the first pure play SOA based application suite for Retail, Corporate, Investment banking and Insurance.
Polaris is headquartered in Chennai and has offices in all global financial hubs, including Bangalore, Belfast, Chennai, Chicago, Dhaka, Dublin, Dubai, Frankfurt, Hong Kong, Ho Chi Minh City, Hyderabad, Kuala Lumpur, Lisle, London, Madrid, Manila, Melbourne, Mississuaga, Mumbai, Nairobi , Neuchatel, New Delhi, New Jersey, Paris, Pittsburgh, Pune, Riyadh, Santiago, San Francisco, Seoul, Shanghai, Singapore, St. Germain En Laye, Sydney, Thane, Tokyo, Toronto, Victoria and Wicklow. For more information, please visit http://www.polarisFT.com/.
CONTACT DETAILS
Minal Sahani, Media, Polaris Financial Technology Ltd., +91 9176626468, minal.sahani@polarisFT.com
G. Sunanthy Devi, Investor, Polaris Financial Technology Ltd., +91 8939933564, sunanthy.g@polarisFT.com
KEYWORDS
PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Polaris Financial Technology Ltd.
Wednesday, October 31, 2012 01:50 PM IST (08:20 AM GMT)
Editors: General: People; Business: Banking & financial services, Business services, Financial Analyst; Technology
--------------------------------------------------
Polaris Launches Intellect Algorithmic Liquidity Solution at SIBOS 2012
Osaka, Japan, New York , United States, London, United Kingdom, Singapore (APAC) and Chennai, Tamil Nadu, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Polaris Financial Technology Ltd (POLS.BO), a leading global Financial Technology Company, today announced the launch of IntellectTM Algorithmic Liquidity Solution at SIBOS 2012 in Osaka, Japan.
Polaris' Intellect Algorithmic Liquidity Solution is a financial technology innovation that utilizes advanced mathematical models for making transaction decisions in liquidity management, thereby erasing transaction costs and allowing treasury managers to take control of their global liquidity. The rules built into liquidity models attempt to determine the optimal amount of funds to sweep or pool one account at a time.
Polaris has developed various canned strategies that a bank/corporate customer can pick, choose and run for managing liquidity like IEF, Multi-Currency Pooling, Multi-Bank Cash Concentration, Programmed Inter Company Lending and Automated Investment Sweeps.
The solution automates cross border, cross currency and cross bank liquidity management with no manual intervention. Surplus funds can be managed using pre-configured programs that run 24 X 7, managing funds in a 'follow the sun' mode. The resultant advantages of Algorithmic Liquidity Solution include best returns on idle balances and increased transparency for regulatory compliance. The solution provides an ideal platform for development of customized models with high level collaboration between banks and corporate customers as algorithms are meant to meet the liquidity objectives of the Corporate Treasurer.
Speaking at the launch, Mr. Uppili Srinivasan, Head -Intellect Global Transaction Banking, Polaris Financial Technology Ltd said, "We are delighted to launch Intellect Algorithmic Liquidity Solution as it enables the evolution of our banking customer from a peripheral bank to a treasury bank. The solution increases speed and flexibility enabling treasurers to manage their funds spread across the world. Given the global economic conditions, every minute counts and algorithmic liquidity puts technology to work to manage volatility at zero or fully hedged risk. To provide more intelligent investment decisions, banks and financial institutions can utilize Polaris' Algorithmic Liquidity Solution that brings with it foresight to predict forward cash positions and suggest best investment avenues."
About Polaris Financial Technology Ltd
Polaris Financial Technology Ltd (formerly known as Polaris Software Lab Ltd) (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 13,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, Intellect GUB M180. Intellect is the first pure play SOA based application suite for Retail, Corporate, Investment banking and Insurance.
Polaris is headquartered in Chennai and has offices in all global financial hubs, including Bangalore, Belfast, Chennai, Chicago, Dhaka, Dublin, Dubai, Frankfurt, Hong Kong, Ho Chi Minh City, Hyderabad, Kuala Lumpur, Lisle, London, Madrid, Manila, Melbourne, Mississuaga, Mumbai, Nairobi , Neuchatel, New Delhi, New Jersey, Paris, Pittsburgh, Pune, Riyadh, Santiago, San Francisco, Seoul, Shanghai, Singapore, St. Germain En Laye, Sydney, Thane, Tokyo, Toronto, Victoria and Wicklow. For more information, please visit http://www.polarisFT.com/.
CONTACT DETAILS
Minal Sahani, Media, Polaris Financial Technology Ltd., +91 9176626468, minal.sahani@polarisFT.com
G. Sunanthy Devi, Investor, Polaris Financial Technology Ltd., +91 8939933564, sunanthy.g@polarisFT.com
KEYWORDS
PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Serbian Footballer Steps Forward with Dr. Shreepad Khedekar in Supporting Homeopathy
Press release from Business Wire India
Source: Imperial Clinics
Wednesday, October 31, 2012 12:47 PM IST (07:17 AM GMT)
Editors: General: Consumer interest, People, Sports; Business: Advertising, PR & marketing, Business services, Media & entertainment, Sports; Healthcare
--------------------------------------------------
Serbian Footballer Steps Forward with Dr. Shreepad Khedekar in Supporting Homeopathy
Mumbai, Maharashtra, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Marko Pantelic, international football star is making news in India for his initiative to support Homeopathy as a cure to heal the mental and physical well being of mankind.
In addition to the well-known fans of football in Serbia and Europe, Marko Pantelic is now a recognizable face for the majority of the population in India, since he is on billboards all over the city as the face of homeopathic clinics at Dadar West.
Homeopathy works toward understanding the whole person - including their body, mind and emotional state - before prescribing a remedy. Homeopathy is the art and science of healing by safe, gentle, and natural methods. It does not seek to remove or suppress symptoms. Its goal is to recognize and remove the underlying cause of these symptoms.
According to Dr. Shreepad Khedekar, Clinical Director & Homeopath, Imperial Clinics, "I really appreciate Marko's support to encourage and speared awareness about the Homeopathy Medicines. Homeopathy is serious science which is evidence-based, and assists the body to heal itself, to overcome an illness which brings the patient to a higher level of health.
According to Marko Pantelic, Serbian Soccer Player, "I support what they do, and I know that homeopathic medicines are used by many celebrities and their entire families. Following homeopathy has helped me immensely and boosted my confidence thereby improving my performance."
About Dr. Shreepad Khedekar:
Dr. Shreepad Khedekar, B.H.M.S, MD, Clinical Director at Imperial Clinics which a specialty cure clinic in Mumbai, Goa and Belgrade, Over past decade he has been treating patients with severe chronic conditions. Dr.Khedekar has established his name in doing what was imagined to be impossible, curing patients with Cancers, Motor Neurone Diseases.
To view the photograph, please click on the link given below:
Dr. Shreepad Khedekar, Clinical Director, Imperial Clinics with Serbain Soccer Player Marko Pantellic
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Dr_Shreepad_Khedekar_With_Marko_Pantelic.jpeg
Dr. Shreepad Khedekar, Clinical Director, Imperial Clinics with Serbain Soccer Player Marko Pantellic
CONTACT DETAILS
Ms. Richa Patel, +91 (22) 32249353
KEYWORDS
CONSUMER, PEOPLE, SPORTS, MARKETING, BUSINESS SERVICES, MEDIA, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Imperial Clinics
Wednesday, October 31, 2012 12:47 PM IST (07:17 AM GMT)
Editors: General: Consumer interest, People, Sports; Business: Advertising, PR & marketing, Business services, Media & entertainment, Sports; Healthcare
--------------------------------------------------
Serbian Footballer Steps Forward with Dr. Shreepad Khedekar in Supporting Homeopathy
Mumbai, Maharashtra, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Marko Pantelic, international football star is making news in India for his initiative to support Homeopathy as a cure to heal the mental and physical well being of mankind.
In addition to the well-known fans of football in Serbia and Europe, Marko Pantelic is now a recognizable face for the majority of the population in India, since he is on billboards all over the city as the face of homeopathic clinics at Dadar West.
Homeopathy works toward understanding the whole person - including their body, mind and emotional state - before prescribing a remedy. Homeopathy is the art and science of healing by safe, gentle, and natural methods. It does not seek to remove or suppress symptoms. Its goal is to recognize and remove the underlying cause of these symptoms.
According to Dr. Shreepad Khedekar, Clinical Director & Homeopath, Imperial Clinics, "I really appreciate Marko's support to encourage and speared awareness about the Homeopathy Medicines. Homeopathy is serious science which is evidence-based, and assists the body to heal itself, to overcome an illness which brings the patient to a higher level of health.
According to Marko Pantelic, Serbian Soccer Player, "I support what they do, and I know that homeopathic medicines are used by many celebrities and their entire families. Following homeopathy has helped me immensely and boosted my confidence thereby improving my performance."
About Dr. Shreepad Khedekar:
Dr. Shreepad Khedekar, B.H.M.S, MD, Clinical Director at Imperial Clinics which a specialty cure clinic in Mumbai, Goa and Belgrade, Over past decade he has been treating patients with severe chronic conditions. Dr.Khedekar has established his name in doing what was imagined to be impossible, curing patients with Cancers, Motor Neurone Diseases.
To view the photograph, please click on the link given below:
Dr. Shreepad Khedekar, Clinical Director, Imperial Clinics with Serbain Soccer Player Marko Pantellic
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Dr_Shreepad_Khedekar_With_Marko_Pantelic.jpeg
Dr. Shreepad Khedekar, Clinical Director, Imperial Clinics with Serbain Soccer Player Marko Pantellic
CONTACT DETAILS
Ms. Richa Patel, +91 (22) 32249353
KEYWORDS
CONSUMER, PEOPLE, SPORTS, MARKETING, BUSINESS SERVICES, MEDIA, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Häfele Launches Blum’s TANDEMBOX antaro and TANDEMBOX intivo
Press release from Business Wire India
Source: Häfele
Wednesday, October 31, 2012 11:05 AM IST (05:35 AM GMT)
Editors: General: Consumer interest, Lifestyle, People; Business: Advertising, PR & marketing, Business services, Electronic appliances & components, Hospitality, Household & personal care products & services, Major diversified industrial groups, Retailers
--------------------------------------------------
Häfele Launches Blum's TANDEMBOX antaro and TANDEMBOX intivo
Mumbai, Maharashtra, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Häfele launches Blum's TANDEMBOX antaro and TANDEMBOX intivo to meet the latest developments in the field of kitchen design and to complement its existing range of pull-outs. Austrian manufacturer of fittings with Häfele releases the new TANDEMBOX intivo and TANDEMBOX antaro in the Indian market to meet the latest trends in kitchen design and to complement the existing range. A multitude of design options and provides a wide selection of materials for high fronted pull-outs.
The purist TANDEMBOX antaro is characterized by rectangular gallery rails. By using angular elements and by harmonizing the color of all fittings components, Blum has created a system that is a clear alternative to pull-outs with round gallery rails. TANDEMBOX antaro is based on tried and tested system components. The color and material concept of TANDEMBOX antaro is also based on that of TANDEMBOX intivo. This means that manufacturers have a manageable product range with many new and different opportunities for design.
The individual TANDEMBOX intivo gives customers even more possibilities to personalize high fronted pull-outs. The box system is available in a vast array of materials and colors, thus providing a multitude of new possibilities for differentiation. TANDEMBOX intivo has a harmonious appearance, consisting of a drawer side without a gallery rail. The drawer side can be combined with a Boxcap, an attachment of the same drawer side material, or with design elements of any material such as glass (which can now also be printed with colorful décors, logos and writing), wood or stone, nylon or leather. When conceiving TANDEMBOX intivo, developers took great care to achieve a balance between drawer side and design element. The transition is smooth. There is no gap between drawer side and design element. The same concept can also be used for inner drawers. The new high fronted pull-out drawer side has 3-dimensional front adjustment - directly under the drawer side cover cap.
All pull-out systems provide enhanced user convenience. All of Blum's box systems close softly and silently with integrated Blumotion and all of them have a feather-light glide. Full extensions give users clear visibility and direct access to contents. Thanks to the wide range of products, a multitude of applications are possible. In addition, the box systems excel in terms of simple assembly and user-friendly adjustment technology because all TANDEMBOX product lines have the same system components such as cabinet profiles and backs. The user convenience of Blum's pull-outs can be further enhanced with Servo-Drive. The electric opening system can be used for all three models. A single touch suffices and pull-outs seem to open by themselves. As an alternative, pull-outs can be equipped with the Tip-on mechanical system to increase opening ease.
About Häfele:
Häfele set foot in India in 2001 as a liaison office essentially handling Hospitality projects for its line of Access Control Systems - Dialock. The growing hardware demand and the increasing architectural maturity motivated the company to start full commercial operations in India in 2003 as a wholly owned subsidiary by the name, Häfele India Pvt. Ltd. With its head office in Mumbai, 6 regional offices with Design Centers in all major metros and sales presence across the country, Häfele India has, over the last 8 years, acquired a leading position in the Indian Architectural Hardware Industry. Backed by the encouragement and constant motivation of Mr. Jürgen Wolf, Managing Director, employees at Häfele take responsibility for their learning. Häfele India lays pride in its diverse range of quality products, well-networked channel partners and unmatched service to customers. In addition to this, the subsidiary is the sole distributor in India, since 2004, to BLUM - an Austrian kitchen fittings manufacturer and world leader. Today, Häfele India employs over 300 people who cater to a wide customer base with the help of an efficient distribution network, comprehensive logistics system and a sophisticated warehouse located in Mumbai.
About Blum:
Blum is the leading manufacturer of functional furniture fittings. Furniture - particularly kitchens - is fitted with hinges, pull-outs and lift systems made by Blum. For over 50 years, quality has been the highest principle for the development and manufacture of Blum's products that are designed to inspire and trigger fascination. Blum turns the opening and closing of furniture into an experience that significantly increases the comfort of motion in the kitchen. The products, which are produced in 7 state-of-the-art production plants in Austria, give the highest comfort to the user and guarantee a long durability. Blum has over 1000 active patent licenses all over the world and holds besides the 9001 ISO certification also the ISO 14001 which certifies environmental systems. More than 5,000 Blum employees worldwide are continually working on implementing the concept of perfect motion and successfully sell the products to more than 100 countries all over the world on a regular basis. The liaison office of Blum India is located in the Häfele India HQ in Mumbai, headed by Mr. Martin Herr, Managing Director of Blum India. This underlines the strong cooperation and partnership between the two companies.
For more information, visit http://www.hafeleindia.com
To view the photographs, please click on the links given below:
Blum's TANDEMBOX antaro
Blum's TANDEMBOX intivo
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Antaro_2(2).jpg
Blum's TANDEMBOX antaro
http://www.BusinessWireIndia.com/attachments/Intivo_1(4).jpg
Blum's TANDEMBOX intivo
CONTACT DETAILS
Nawzer Kerawala, Synergy Public Relations, nawzer@synergypr.org
Salome Suthkatti, Häfele India Pvt Ltd, +91 (22) 61426100
KEYWORDS
CONSUMER, LIFESTYLE, PEOPLE, MARKETING, BUSINESS SERVICES, ELECTRONICS, HOSPITALITY, HOUSEHOLD, GROUPS, RETAIL
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Häfele
Wednesday, October 31, 2012 11:05 AM IST (05:35 AM GMT)
Editors: General: Consumer interest, Lifestyle, People; Business: Advertising, PR & marketing, Business services, Electronic appliances & components, Hospitality, Household & personal care products & services, Major diversified industrial groups, Retailers
--------------------------------------------------
Häfele Launches Blum's TANDEMBOX antaro and TANDEMBOX intivo
Mumbai, Maharashtra, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Häfele launches Blum's TANDEMBOX antaro and TANDEMBOX intivo to meet the latest developments in the field of kitchen design and to complement its existing range of pull-outs. Austrian manufacturer of fittings with Häfele releases the new TANDEMBOX intivo and TANDEMBOX antaro in the Indian market to meet the latest trends in kitchen design and to complement the existing range. A multitude of design options and provides a wide selection of materials for high fronted pull-outs.
The purist TANDEMBOX antaro is characterized by rectangular gallery rails. By using angular elements and by harmonizing the color of all fittings components, Blum has created a system that is a clear alternative to pull-outs with round gallery rails. TANDEMBOX antaro is based on tried and tested system components. The color and material concept of TANDEMBOX antaro is also based on that of TANDEMBOX intivo. This means that manufacturers have a manageable product range with many new and different opportunities for design.
The individual TANDEMBOX intivo gives customers even more possibilities to personalize high fronted pull-outs. The box system is available in a vast array of materials and colors, thus providing a multitude of new possibilities for differentiation. TANDEMBOX intivo has a harmonious appearance, consisting of a drawer side without a gallery rail. The drawer side can be combined with a Boxcap, an attachment of the same drawer side material, or with design elements of any material such as glass (which can now also be printed with colorful décors, logos and writing), wood or stone, nylon or leather. When conceiving TANDEMBOX intivo, developers took great care to achieve a balance between drawer side and design element. The transition is smooth. There is no gap between drawer side and design element. The same concept can also be used for inner drawers. The new high fronted pull-out drawer side has 3-dimensional front adjustment - directly under the drawer side cover cap.
All pull-out systems provide enhanced user convenience. All of Blum's box systems close softly and silently with integrated Blumotion and all of them have a feather-light glide. Full extensions give users clear visibility and direct access to contents. Thanks to the wide range of products, a multitude of applications are possible. In addition, the box systems excel in terms of simple assembly and user-friendly adjustment technology because all TANDEMBOX product lines have the same system components such as cabinet profiles and backs. The user convenience of Blum's pull-outs can be further enhanced with Servo-Drive. The electric opening system can be used for all three models. A single touch suffices and pull-outs seem to open by themselves. As an alternative, pull-outs can be equipped with the Tip-on mechanical system to increase opening ease.
About Häfele:
Häfele set foot in India in 2001 as a liaison office essentially handling Hospitality projects for its line of Access Control Systems - Dialock. The growing hardware demand and the increasing architectural maturity motivated the company to start full commercial operations in India in 2003 as a wholly owned subsidiary by the name, Häfele India Pvt. Ltd. With its head office in Mumbai, 6 regional offices with Design Centers in all major metros and sales presence across the country, Häfele India has, over the last 8 years, acquired a leading position in the Indian Architectural Hardware Industry. Backed by the encouragement and constant motivation of Mr. Jürgen Wolf, Managing Director, employees at Häfele take responsibility for their learning. Häfele India lays pride in its diverse range of quality products, well-networked channel partners and unmatched service to customers. In addition to this, the subsidiary is the sole distributor in India, since 2004, to BLUM - an Austrian kitchen fittings manufacturer and world leader. Today, Häfele India employs over 300 people who cater to a wide customer base with the help of an efficient distribution network, comprehensive logistics system and a sophisticated warehouse located in Mumbai.
About Blum:
Blum is the leading manufacturer of functional furniture fittings. Furniture - particularly kitchens - is fitted with hinges, pull-outs and lift systems made by Blum. For over 50 years, quality has been the highest principle for the development and manufacture of Blum's products that are designed to inspire and trigger fascination. Blum turns the opening and closing of furniture into an experience that significantly increases the comfort of motion in the kitchen. The products, which are produced in 7 state-of-the-art production plants in Austria, give the highest comfort to the user and guarantee a long durability. Blum has over 1000 active patent licenses all over the world and holds besides the 9001 ISO certification also the ISO 14001 which certifies environmental systems. More than 5,000 Blum employees worldwide are continually working on implementing the concept of perfect motion and successfully sell the products to more than 100 countries all over the world on a regular basis. The liaison office of Blum India is located in the Häfele India HQ in Mumbai, headed by Mr. Martin Herr, Managing Director of Blum India. This underlines the strong cooperation and partnership between the two companies.
For more information, visit http://www.hafeleindia.com
To view the photographs, please click on the links given below:
Blum's TANDEMBOX antaro
Blum's TANDEMBOX intivo
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Blum's TANDEMBOX antaro
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Blum's TANDEMBOX intivo
CONTACT DETAILS
Nawzer Kerawala, Synergy Public Relations, nawzer@synergypr.org
Salome Suthkatti, Häfele India Pvt Ltd, +91 (22) 61426100
KEYWORDS
CONSUMER, LIFESTYLE, PEOPLE, MARKETING, BUSINESS SERVICES, ELECTRONICS, HOSPITALITY, HOUSEHOLD, GROUPS, RETAIL
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BWI: Biocon Announces Positive Results from its Global Phase 3 Study with Recombinant Human Insulin
Press release from Business Wire India
Source: Biocon Limited
Wednesday, October 31, 2012 10:30 AM IST (05:00 AM GMT)
Editors: General: People; Business: Business services, Healthcare, biotechnology & pharmaceutical; Technology; Healthcare
--------------------------------------------------
Biocon Announces Positive Results from its Global Phase 3 Study with Recombinant Human Insulin
Study demonstrates comparable safety and efficacy with the innovator product
Bangalore, Karnataka, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Biocon, Asia's premier biotechnology Company, announced today that the Global Phase 3 study for its Recombinant Human Insulin (INSUGEN®), in Type 1 diabetes mellitus (T1DM) patients, demonstrates comparable safety and efficacy with the innovator product.
This multi-center, randomized study was conducted in nearly 300, T1DM patients, to compare efficacy, safety and immunogenicity of Biocon's Regular human Insulin (Insugen R®) and Isophane human Insulin (Insugen N®) against the innovator products (Actrapid® and Insulatard®) sourced from Europe. The trial met its efficacy end-point by demonstrating non-inferiority in HbA1c endpoint at 6 months. Immunogenicity and safety as evaluated by hypoglycemic events at the 6 month time point were also similar.
The Part 2 of the study to demonstrate additional safety and immunogenicity over one year is ongoing and is expected to be completed by next year with the final results expected in H1, FY14.
Data from this ongoing study along with extensive physico-chemical & biological characterization and PK-PD (pharmacokinetic & pharmaco-dynamic) data generated to date comparing Insugen-R® & Insugen-N® with the innovator products will enable Biocon to submit a robust dossier for marketing authorization in EU and other global markets.
Commenting on these results, Ms. Kiran Mazumdar-Shaw, Chairman & Managing Director, Biocon said, "The positive outcome of this global phase 3 study is a significant milestone in our global insulins development program and will enable regulatory approvals of our recombinant human insulin products across developed and emerging markets. Human insulin is a widely accepted component of insulin therapy for diabetes patients and Biocon's human insulin, will present an affordable alternative to the patients worldwide. These data along with the recent PK-PD data for our insulin glargine (BASALOG®) demonstrate our commitment to pursue our global insulins strategy and deliver affordable therapy to the patients."
"This data along with extensive characterization and PK-PD data generated to date with Biocon's regular and isophane insulin demonstrate comparability with the innovator products", said Dr. Abhijit Barve, President R&D of Biocon. "This was our first global study for rh-Insulin and we are pleased with the outcome. These data and our recent positive PK-PD data for Biosimilar Glargine enable us to pursue our global development strategy for Biosimilar Insulins."
About Human Recombinant Insulins
Insugen R® is short-acting human insulin and offers post meal control of glucose while Insugen N® is long-acting human insulin and offers basal control of glucose levels. Human recombinant insulin is used as a basal-bolus regimen or pump regimen and is most widely used by Type 1 and Type 2 diabetics in most parts of the world. Biocon's INSUGEN® is currently marketed in various countries and these data will reinforce the confidence of physicians & diabetes care providers in INSUGEN® & other products in the insulin portfolio.
Actrapid® and Insulatard® are registered brands of Novo Nordisk
About Biocon Limited
Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's premier biotechnology company with a strategic focus on biopharmaceuticals and research services. Established in 1978 by Dr. Kiran Mazumdar-Shaw, the Group is an integrated, innovation-driven healthcare enterprise with offerings that traverse the entire drug development value chain. Balancing its novel molecule research pipeline with a diversified product portfolio, Biocon delivers affordable solutions to partners and customers in over 75 countries across the globe. Many of these products have USFDA and EMA acceptance. Stellar products from Biocon's stable include the world's first Pichia-based recombinant human Insulin, INSUGEN® and glargine, BASALOG® coupled with a state of the art insulin pen device, INSUPen® and India's first indigenously produced monoclonal antibody BioMAb-EGFR®. With a team of over 6500 employees, Biocon has been recognized amongst the 'Top 20' Global Employers in biopharma sector. www.biocon.com.
CONTACT DETAILS
Seema Ahuja, Biocon Limited, +91 9972317792 / +91 (80) 28082222, seema.ahuja@biocon.com
Varija Belliappa, Biocon Limited, +91 9880133507 / +91 (80) 28082223, varija.belliappa@biocon.com
Sweta Pachlangiya, Investor Contact, Biocon Limited, +91 9686509372 / +91 (80) 28082045, sweta.pachlangiya@biocon.com
KEYWORDS
PEOPLE, BUSINESS SERVICES, HEALTHCARE, TECHNOLOGY, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Biocon Limited
Wednesday, October 31, 2012 10:30 AM IST (05:00 AM GMT)
Editors: General: People; Business: Business services, Healthcare, biotechnology & pharmaceutical; Technology; Healthcare
--------------------------------------------------
Biocon Announces Positive Results from its Global Phase 3 Study with Recombinant Human Insulin
Study demonstrates comparable safety and efficacy with the innovator product
Bangalore, Karnataka, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Biocon, Asia's premier biotechnology Company, announced today that the Global Phase 3 study for its Recombinant Human Insulin (INSUGEN®), in Type 1 diabetes mellitus (T1DM) patients, demonstrates comparable safety and efficacy with the innovator product.
This multi-center, randomized study was conducted in nearly 300, T1DM patients, to compare efficacy, safety and immunogenicity of Biocon's Regular human Insulin (Insugen R®) and Isophane human Insulin (Insugen N®) against the innovator products (Actrapid® and Insulatard®) sourced from Europe. The trial met its efficacy end-point by demonstrating non-inferiority in HbA1c endpoint at 6 months. Immunogenicity and safety as evaluated by hypoglycemic events at the 6 month time point were also similar.
The Part 2 of the study to demonstrate additional safety and immunogenicity over one year is ongoing and is expected to be completed by next year with the final results expected in H1, FY14.
Data from this ongoing study along with extensive physico-chemical & biological characterization and PK-PD (pharmacokinetic & pharmaco-dynamic) data generated to date comparing Insugen-R® & Insugen-N® with the innovator products will enable Biocon to submit a robust dossier for marketing authorization in EU and other global markets.
Commenting on these results, Ms. Kiran Mazumdar-Shaw, Chairman & Managing Director, Biocon said, "The positive outcome of this global phase 3 study is a significant milestone in our global insulins development program and will enable regulatory approvals of our recombinant human insulin products across developed and emerging markets. Human insulin is a widely accepted component of insulin therapy for diabetes patients and Biocon's human insulin, will present an affordable alternative to the patients worldwide. These data along with the recent PK-PD data for our insulin glargine (BASALOG®) demonstrate our commitment to pursue our global insulins strategy and deliver affordable therapy to the patients."
"This data along with extensive characterization and PK-PD data generated to date with Biocon's regular and isophane insulin demonstrate comparability with the innovator products", said Dr. Abhijit Barve, President R&D of Biocon. "This was our first global study for rh-Insulin and we are pleased with the outcome. These data and our recent positive PK-PD data for Biosimilar Glargine enable us to pursue our global development strategy for Biosimilar Insulins."
About Human Recombinant Insulins
Insugen R® is short-acting human insulin and offers post meal control of glucose while Insugen N® is long-acting human insulin and offers basal control of glucose levels. Human recombinant insulin is used as a basal-bolus regimen or pump regimen and is most widely used by Type 1 and Type 2 diabetics in most parts of the world. Biocon's INSUGEN® is currently marketed in various countries and these data will reinforce the confidence of physicians & diabetes care providers in INSUGEN® & other products in the insulin portfolio.
Actrapid® and Insulatard® are registered brands of Novo Nordisk
About Biocon Limited
Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's premier biotechnology company with a strategic focus on biopharmaceuticals and research services. Established in 1978 by Dr. Kiran Mazumdar-Shaw, the Group is an integrated, innovation-driven healthcare enterprise with offerings that traverse the entire drug development value chain. Balancing its novel molecule research pipeline with a diversified product portfolio, Biocon delivers affordable solutions to partners and customers in over 75 countries across the globe. Many of these products have USFDA and EMA acceptance. Stellar products from Biocon's stable include the world's first Pichia-based recombinant human Insulin, INSUGEN® and glargine, BASALOG® coupled with a state of the art insulin pen device, INSUPen® and India's first indigenously produced monoclonal antibody BioMAb-EGFR®. With a team of over 6500 employees, Biocon has been recognized amongst the 'Top 20' Global Employers in biopharma sector. www.biocon.com.
CONTACT DETAILS
Seema Ahuja, Biocon Limited, +91 9972317792 / +91 (80) 28082222, seema.ahuja@biocon.com
Varija Belliappa, Biocon Limited, +91 9880133507 / +91 (80) 28082223, varija.belliappa@biocon.com
Sweta Pachlangiya, Investor Contact, Biocon Limited, +91 9686509372 / +91 (80) 28082045, sweta.pachlangiya@biocon.com
KEYWORDS
PEOPLE, BUSINESS SERVICES, HEALTHCARE, TECHNOLOGY, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
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BWI: GE Capital to Invest in Syngene, Biocon’s Research Services Subsidiary
Press release from Business Wire India
Source: Biocon
Wednesday, October 31, 2012 10:20 AM IST (04:50 AM GMT)
Editors: General: People; Business: Banking & financial services, Business services, Financial Analyst, Healthcare, biotechnology & pharmaceutical; Healthcare
--------------------------------------------------
GE Capital to Invest in Syngene, Biocon's Research Services Subsidiary
Bangalore, Karnataka, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Biocon, Asia's premier biotechnology Company, announced today that it has signed an agreement with GE Equity International Mauritius, a subsidiary of GE Capital Corporation ("GE Capital"), which will make a primary equity investment in its research services subsidiary, Syngene International Limited (Syngene).
As per the terms of the agreement, GE Capital would invest Rs. 125 Crores for a 7.69% equity share in Syngene. The transaction is subject to standard condition precedents including regulatory approvals.
Commenting on this development, Ms. Kiran Mazumdar-Shaw, Chairman & Managing Director, Biocon said, "GE Capital's investment in Syngene, Biocon's subsidiary, is a validation of our research services business model which has delivered consistent value to our partners as well as other stakeholders. This takes us closer to our commitment of taking Syngene through an IPO at the most opportune time."
"Welcoming the private equity investment into Syngene, Mr Peter Bains, Director, Syngene said, "This investment will enable Syngene to expand its integrated discovery and development services platform and harness the global outsourcing opportunity to foster high value strategic partnerships with leading pharma and biotech companies. Besides fueling our future growth, this investment also endorses the quality of innovation at Syngene and the role played by its scientific team in accelerating innovation and productivity of its global customers. "
Syngene registered nearly Rs 400 Crores in FY 12. During H1, FY13, the business continues to gain momentum with sales of nearly Rs 250 Crores.
The Biocon Group was advised by Allegro Corporate Finance Advisors and Mundkur Law Partners.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
About Syngene International Limited
Syngene is India's leading contract research organization offering integrated drug discovery and development services with capabilities in medicinal chemistry, biology, in vivo pharmacology, toxicology, custom synthesis, process Research and Development, and formulation development for small and large molecules. Syngene has an expert team of over 1,500 scientists and 1 million sq. ft. of built-up laboratories equipped with state-of-the-art infrastructure to support the Research and Development programs of global pharma, biotech and nutrition companies. More information is available at www.syngeneintl.com.
About Biocon Limited
Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's premier biotechnology company with a strategic focus on biopharmaceuticals and research services. Established in 1978 by Dr. Kiran Mazumdar-Shaw, the Group is an integrated, innovation-driven healthcare enterprise with offerings that traverse the entire drug development value chain. Balancing its novel molecule research pipeline with a diversified product portfolio, Biocon delivers affordable solutions to partners and customers in over 75 countries across the globe. Many of these products have USFDA and EMA acceptance. Stellar products from Biocon's stable include the world's first Pichia-based recombinant human Insulin, INSUGEN® and glargine, BASALOG® coupled with a state of the art insulin pen device, INSUPen® and India's first indigenously produced monoclonal antibody BioMAb-EGFR®. With a team of over 6500 employees, Biocon has been recognized amongst the 'Top 20' Global Employers in biopharma sector. www.biocon.com.
CONTACT DETAILS
Seema Ahuja, Biocon, +91 9972317792 / +91 (80) 28082222, seema.ahuja@biocon.com
Varija Belliappa, Biocon, +91 9880133507 / +91 (80) 28082223, varija.belliappa@biocon.com
Sweta Pachlangiya, Investor Contact, Biocon, +91 9686509372 / +91 (80) 28082045, sweta.pachlangiya@biocon.com
Gayatri Rath, GE Capital Communications, +91 9873691843 / +91 (124) 4808918, gayatri.rath@ge.com
KEYWORDS
PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, HEALTHCARE, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
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Source: Biocon
Wednesday, October 31, 2012 10:20 AM IST (04:50 AM GMT)
Editors: General: People; Business: Banking & financial services, Business services, Financial Analyst, Healthcare, biotechnology & pharmaceutical; Healthcare
--------------------------------------------------
GE Capital to Invest in Syngene, Biocon's Research Services Subsidiary
Bangalore, Karnataka, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Biocon, Asia's premier biotechnology Company, announced today that it has signed an agreement with GE Equity International Mauritius, a subsidiary of GE Capital Corporation ("GE Capital"), which will make a primary equity investment in its research services subsidiary, Syngene International Limited (Syngene).
As per the terms of the agreement, GE Capital would invest Rs. 125 Crores for a 7.69% equity share in Syngene. The transaction is subject to standard condition precedents including regulatory approvals.
Commenting on this development, Ms. Kiran Mazumdar-Shaw, Chairman & Managing Director, Biocon said, "GE Capital's investment in Syngene, Biocon's subsidiary, is a validation of our research services business model which has delivered consistent value to our partners as well as other stakeholders. This takes us closer to our commitment of taking Syngene through an IPO at the most opportune time."
"Welcoming the private equity investment into Syngene, Mr Peter Bains, Director, Syngene said, "This investment will enable Syngene to expand its integrated discovery and development services platform and harness the global outsourcing opportunity to foster high value strategic partnerships with leading pharma and biotech companies. Besides fueling our future growth, this investment also endorses the quality of innovation at Syngene and the role played by its scientific team in accelerating innovation and productivity of its global customers. "
Syngene registered nearly Rs 400 Crores in FY 12. During H1, FY13, the business continues to gain momentum with sales of nearly Rs 250 Crores.
The Biocon Group was advised by Allegro Corporate Finance Advisors and Mundkur Law Partners.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
About Syngene International Limited
Syngene is India's leading contract research organization offering integrated drug discovery and development services with capabilities in medicinal chemistry, biology, in vivo pharmacology, toxicology, custom synthesis, process Research and Development, and formulation development for small and large molecules. Syngene has an expert team of over 1,500 scientists and 1 million sq. ft. of built-up laboratories equipped with state-of-the-art infrastructure to support the Research and Development programs of global pharma, biotech and nutrition companies. More information is available at www.syngeneintl.com.
About Biocon Limited
Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's premier biotechnology company with a strategic focus on biopharmaceuticals and research services. Established in 1978 by Dr. Kiran Mazumdar-Shaw, the Group is an integrated, innovation-driven healthcare enterprise with offerings that traverse the entire drug development value chain. Balancing its novel molecule research pipeline with a diversified product portfolio, Biocon delivers affordable solutions to partners and customers in over 75 countries across the globe. Many of these products have USFDA and EMA acceptance. Stellar products from Biocon's stable include the world's first Pichia-based recombinant human Insulin, INSUGEN® and glargine, BASALOG® coupled with a state of the art insulin pen device, INSUPen® and India's first indigenously produced monoclonal antibody BioMAb-EGFR®. With a team of over 6500 employees, Biocon has been recognized amongst the 'Top 20' Global Employers in biopharma sector. www.biocon.com.
CONTACT DETAILS
Seema Ahuja, Biocon, +91 9972317792 / +91 (80) 28082222, seema.ahuja@biocon.com
Varija Belliappa, Biocon, +91 9880133507 / +91 (80) 28082223, varija.belliappa@biocon.com
Sweta Pachlangiya, Investor Contact, Biocon, +91 9686509372 / +91 (80) 28082045, sweta.pachlangiya@biocon.com
Gayatri Rath, GE Capital Communications, +91 9873691843 / +91 (124) 4808918, gayatri.rath@ge.com
KEYWORDS
PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, HEALTHCARE, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
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BWI: Rs. 15 Lakhs in Cash Prizes - RummyCircle.com Announces 4th Annual Diwali Rummy Tournament
Press release from Business Wire India
Source: RummyCircle.com
Wednesday, October 31, 2012 10:00 AM IST (04:30 AM GMT)
Editors: General: Consumer interest, Entertainment, People; Business: Advertising, PR & marketing, Business services, Information technology, Major diversified industrial groups, Media & entertainment; Technology
--------------------------------------------------
Rs. 15 Lakhs in Cash Prizes - RummyCircle.com Announces 4th Annual Diwali Rummy Tournament
Mumbai, Maharashtra, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Card players across India have begun to gather at RummyCircle.com to join the Biggest Online Cards Party - the 4th Annual Diwali Rummy Tournament to be held on 18th November 2012. This is the largest ever online rummy tournament with Rs. 15 lakhs in cash prizes. The top winner will walk away with a whopping Rs. 5 lakhs. Entry to the final tournament is free and one can win a ticket to the finals by playing qualifiers, running 24x7 on RummyCircle.com from the 30th of October to the 17th of November.
RummyCircle.com (formerly Games24x7.com) started the tradition of an annual Diwali Rummy Tournament in 2009, with Rs. 1,00,000 in cash prizes. "The prize pool in 2012 is 15 times larger, and over 15,000 players are expected to participate this time around," says Srikanth Donthi, Product Manager at RummyCircle.com. He continues, "Since 2009, we had organized this tournament on a platform that supported only two player tables. The 2012 Diwali Rummy Tournament will be hosted on our brand new multi-player tournament platform with 6 players per table. We have taken particular care in designing an engaging tournament experience that rummy players will love!"
For many players, RummyCircle.com's Diwali Rummy Tournament is a fun filled ritual since it completes their traditional experience of playing cards during the Diwali season. The 2011 Diwali Rummy Tournament winner, Mr Mekala from Andhra Pradesh says, "I have no words to express my happiness on winning such a huge amount in Diwali Rummy Tournament. Winning such a big amount is only possible on RummyCircle which is a safe, secure and genuine site."
"We have carefully designed the Diwali Rummy Tournament schedule to ensure that players across the country have a fantastic three weeks of rummy this Diwali. Qualifier tournaments are LIVE now and one can visit Rummycircle.com/Diwali to get started." concludes Sachin Uppal, Marketing Director at RummyCircle.com.
Notes to Editor
Play Games24x7 Pvt. Ltd. operates India's Largest Rummy website, www.RummyCircle.com , with more than 1.2 million rummy players. RummyCircle offers the simplest online multi-player rummy game in popular formats for free and for cash. Site offers extremely secure playing environment with multiple payment options and a quick withdrawal system.
The management team is immensely passionate about delivering nothing but the Best Rummy Experience to every rummy player. Play Games24x7 was started in 2006. It is professionally managed by online gaming entrepreneurs who are alumni of NYU, IIT and IIM, and is funded by Tiger Global Management.
To view the photograph, please click on the link given below:
Diwali Rummy Tournament
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/diwal_rummy_tournament.jpg
Diwali Rummy Tournament
CONTACT DETAILS
Sachin Uppal, Marketing Director, Play Games24x7 Pvt. Ltd., press.relations@games24x7.com
KEYWORDS
CONSUMER, ENTERTAINMENT, PEOPLE, MARKETING, BUSINESS SERVICES, IT, GROUPS, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
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Source: RummyCircle.com
Wednesday, October 31, 2012 10:00 AM IST (04:30 AM GMT)
Editors: General: Consumer interest, Entertainment, People; Business: Advertising, PR & marketing, Business services, Information technology, Major diversified industrial groups, Media & entertainment; Technology
--------------------------------------------------
Rs. 15 Lakhs in Cash Prizes - RummyCircle.com Announces 4th Annual Diwali Rummy Tournament
Mumbai, Maharashtra, India, Wednesday, October 31, 2012 -- (Business Wire India) -- Card players across India have begun to gather at RummyCircle.com to join the Biggest Online Cards Party - the 4th Annual Diwali Rummy Tournament to be held on 18th November 2012. This is the largest ever online rummy tournament with Rs. 15 lakhs in cash prizes. The top winner will walk away with a whopping Rs. 5 lakhs. Entry to the final tournament is free and one can win a ticket to the finals by playing qualifiers, running 24x7 on RummyCircle.com from the 30th of October to the 17th of November.
RummyCircle.com (formerly Games24x7.com) started the tradition of an annual Diwali Rummy Tournament in 2009, with Rs. 1,00,000 in cash prizes. "The prize pool in 2012 is 15 times larger, and over 15,000 players are expected to participate this time around," says Srikanth Donthi, Product Manager at RummyCircle.com. He continues, "Since 2009, we had organized this tournament on a platform that supported only two player tables. The 2012 Diwali Rummy Tournament will be hosted on our brand new multi-player tournament platform with 6 players per table. We have taken particular care in designing an engaging tournament experience that rummy players will love!"
For many players, RummyCircle.com's Diwali Rummy Tournament is a fun filled ritual since it completes their traditional experience of playing cards during the Diwali season. The 2011 Diwali Rummy Tournament winner, Mr Mekala from Andhra Pradesh says, "I have no words to express my happiness on winning such a huge amount in Diwali Rummy Tournament. Winning such a big amount is only possible on RummyCircle which is a safe, secure and genuine site."
"We have carefully designed the Diwali Rummy Tournament schedule to ensure that players across the country have a fantastic three weeks of rummy this Diwali. Qualifier tournaments are LIVE now and one can visit Rummycircle.com/Diwali to get started." concludes Sachin Uppal, Marketing Director at RummyCircle.com.
Notes to Editor
Play Games24x7 Pvt. Ltd. operates India's Largest Rummy website, www.RummyCircle.com , with more than 1.2 million rummy players. RummyCircle offers the simplest online multi-player rummy game in popular formats for free and for cash. Site offers extremely secure playing environment with multiple payment options and a quick withdrawal system.
The management team is immensely passionate about delivering nothing but the Best Rummy Experience to every rummy player. Play Games24x7 was started in 2006. It is professionally managed by online gaming entrepreneurs who are alumni of NYU, IIT and IIM, and is funded by Tiger Global Management.
To view the photograph, please click on the link given below:
Diwali Rummy Tournament
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/diwal_rummy_tournament.jpg
Diwali Rummy Tournament
CONTACT DETAILS
Sachin Uppal, Marketing Director, Play Games24x7 Pvt. Ltd., press.relations@games24x7.com
KEYWORDS
CONSUMER, ENTERTAINMENT, PEOPLE, MARKETING, BUSINESS SERVICES, IT, GROUPS, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Biocon delivers Healthy Growth in H1FY13
Press release from Business Wire India
Source: Biocon Limited
Tuesday, October 30, 2012 11:55 PM IST (06:25 PM GMT)
Editors: General: Consumer interest, Economy, People; Business: Business services, Financial Analyst, Healthcare, biotechnology & pharmaceutical, Major diversified industrial groups, Stock exchanges; Healthcare
--------------------------------------------------
Biocon delivers Healthy Growth in H1FY13
Research Services & Branded Formulations propel strong growth.
Bangalore, Karnataka, India, Tuesday, October 30, 2012 -- (Business Wire India) -- Revenues: Rs. 1,235 Crores EBITDA: Rs. 305 Crores PAT: Rs. 169 Crores
Commenting on the results, Chairman and Managing Director Kiran Mazumdar-Shaw stated, "We continue to deliver good performance across verticals this fiscal. At the half year, we have seen a 23% YoY increase in revenues attributable to both volume growth as well as better export realization on account of a depreciating rupee. APIs and Biosimilar Insulins have seen significant business expansion in the emerging markets. Branded Formulations and Research Services continue to deliver strong growth. R&D expenditure has risen significantly this fiscal and stands at Rs. 79 cores for H1, a 54% increase over the same period last fiscal. This reflects the progress made by our various Biosimilars and novel molecule programs in the clinic including a European Phase III trial for rh-Insulin which has generated positive interim data. Whilst this has muted profitability, R&D remains a key investment to drive exponential growth in the future. Imported Raw Materials, Power and Personnel costs have also increased by 27%. Despite this, PAT has grown 8% to Rs. 169 Crores for H1 this fiscal. We see this growth momentum continuing for the remaining two quarters.
I am also pleased to report that the prestigious Science magazine ranked Biocon amongst the Global Top 20 Best Employers, which reflects the quality of our human resources and the enabling ecosystem at Biocon.
Finally, I am pleased to announce the proposed investment by GE Capital in our subsidiary Syngene, which we believe establishes a base valuation, an important milestone towards the future public offering."
Highlights:
-- H1 FY13 financials manifest the protracted momentum across verticals:
-- Biopharma Business: 15% YoY increase
-- Branded Formulations: 45% YoY growth
-- Research Services (Syngene and Clinigene): 40% YoY.
-- EBITDA and PAT margins at 25% and 14% respectively.
-- Interim data from EU Phase III trial for biosimilar rh-Insulin indicates achievement of both primary and secondary endpoints.
-- GE Capital proposes to invest Rs. 125 Crores as private equity in Syngene
-- Becomes the only Asian Company to feature in the 'Science' magazine's 2012 global 'Top 20 Employer list' in the biotech & pharma sector.
Business Performance (Vertical-wise)
H1 FY 13 Revenue Summary (in Crores)
Bio Pharma: Rs. 734, Branded Formulations: Rs. 178, Research Services: Rs. 252
Small Molecules & Biosimilars
The biopharma business reported a healthy growth of 15% YoY in the first half of this fiscal, led by a strong performance of Immuno-suppressants, Insulins, Fidaxomicin and Orlistat.
Interim results from the Phase III clinical study for Biocon's biosimilar rh-Insulin in EU, have demonstrated comparable efficacy and safety between our offering and the innovator product. The trial has met its efficacy end point with a comparable immunogenicity and safety profile. The second part of the study evaluating additional safety and immunogenicity parameters is ongoing. These encouraging results will be pivotal in our regulatory and MAA submissions.
"This data along with extensive characterization and PK-PD data generated to date with Biocon's regular and isophane insulin demonstrate comparability with the innovator products", said Dr. Abhijit Barve, President R&D of Biocon. "This was our first global study for rh-Insulin and we are pleased with the outcome. These data and our recent positive PK-PD data for Biosimilar Glargine enable us to pursue our global development strategy for Biosimilar Insulins."
Branded Formulations
The branded formulations business continues to build momentum and recorded a robust growth of 45% YoY. Insugen® and Basalog®, our key brands in Diabetology and Abraxane® & BioMAb EGFR®, lead brands of Oncology, along with several other molecules of Cardiology, Nephrology, Comprehensive Care and Immunotherapy divisions continued to do well and have contributed to this steady growth. A number of our recent offerings have entered into the Top 3 product rankings in their categories. Notable amongst these are: Psorid® (#1), Picon® (#2), Tbis® (#2) and Albubet® (#3).
Commenting on the traction in the branded formulations segment, Rakesh Bamzai, President Marketing, Biocon Limited said, "The continual growth of our branded formulations business is a reflection of the strong product portfolio and the success of our engagement programs with doctors and patients alike. We remain committed to offering differentiated products that provide the 'best in class' affordable treatment options to patients"
Novel Molecules
Our Novel Molecules business continued to progress well during the reporting period. We are in advanced stages of finalizing our co-development agreement for IN-105 (Oral Insulin). We have initiated engagement with potential partners for out licensing Itolizumab (Anti CD6 Monoclonal Antibody) for the global markets. We have recently reported positive data for Itolizumab from an India centric Phase III trial for Psoriasis. This has enabled us to file with the DCGI for marketing authorization in India. We intend to initiate further clinical trials for Itolizumab in other promising indications like Multiple Sclerosis, Vitiligo and Rheumatoid Arthritis.
An important development during this quarter is our decision to exit from our partnered program with Amylin Pharmaceuticals following its acquisition by BMS. AC165198, Amylin's proprietary molecule, was being jointly developed as a novel diabetes treatment agent. A change in control at Amylin provides Biocon with an exit option which it has exercised. This will enable Biocon to focus its resources to other advancing programs.
Research Services
The first half of FY13 witnessed strong momentum for our research services arm, which grew by 40% YoY. Commenting on this performance, Peter Bains, Director Syngene International, said
"Q2 delivered a sales growth of 39 % YoY, which when seen in conjunction with our Q1 results, reflect a very robust performance in the first half of FY13. Our strategy of continuous investments in enhancing and expanding our capabilities, across discovery and development services, has helped us stay ahead of the curve. We see a continuous evolution in the nature of our client relationships- with both existing and new clients. Our client engagement is shifting towards strategic partnerships designed to leverage Syngene and Clinigene's comprehensive service offerings. The endeavor is aimed at developing more customized and strategically integrated discovery and development partnerships that directly address the innovation and productivity goals of our clients. On the back of a number of our new contracts, our order book is robust and we are well placed to see continued momentum through this fiscal and into the next year."
Research Services: Equity Investment by GE Capital
GE Equity International Mauritius, a subsidiary of GE Capital, will make a private equity investment in Syngene International to the tune of Rs. 125 Crores, for a 7.69% equity share. The investment is subject to standard condition precedents including regulatory approvals.
Commenting on this development, Ms. Kiran Mazumdar-Shaw, Chairman & Managing Director, Biocon said, "GE Capital's investment in Syngene is a validation of our research services business model which has delivered consistent value to our partners as well as other stakeholders. This takes us closer to our commitment of taking Syngene through an IPO at the most opportune time."
Outlook
The business outlook remains positive. With a number of our biosimilar & novel programs entering the clinics, we have witnessed an upsurge in our Research & development costs, which indicates potential upsides in the long term. Our biosimilar Trastuzumab is undergoing a Global Phase I and an India Phase III clinical trial. A number of our other biosimilar & novel programs are set to move to the next phase in the development cycle like our biosimilar Insulin Glargine that is expected to commence its Global Phase III trial shortly.
Commenting on Biocon's operations, Dr. Arun Chandavarkar, COO Biocon Limited, said "We are confident of delivering on the significant opportunities represented by the high value product portfolio within each of our strategic growth drivers. Whilst the near term opportunity continues to be in India and other emerging markets, we are on track with our R&D investments and global clinical programs to take our biosimilars to the developed markets in the next few years. We are also on track to unlock value from some of our late stage novel molecule assets through partnering."
About Biocon
Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's premier biotechnology company with a strategic focus on biopharmaceuticals and research services. Established in 1978 by Dr. Kiran Mazumdar-Shaw, the Group is an integrated, innovation-driven healthcare enterprise with offerings that traverse the entire drug development value chain. Balancing its novel molecule research pipeline with a diversified product portfolio, Biocon delivers affordable solutions to partners and customers in over 75 countries across the globe. Many of these products have USFDA and EMA acceptance. Stellar products from Biocon's stable include the world's first Pichia-based recombinant human insulin, INSUGEN® and insulin glargine, BASALOG® coupled with a state of the art insulin pen device, INSUPen® and India's first indigenously produced monoclonal antibody BioMAb-EGFR®. Please visit www.biocon.com for more details.
Disclaimer
Certain statements in this release concerning our future growth prospects are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others general economic and business conditions in India, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither our company, our directors, nor any of our affiliates, have any obligation to update or otherwise revise any statements reflecting circumstances arising after this date or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition.
Earnings Call
The company will conduct an hour long call at 03:15 pm IST on October 31, 2012 where the senior management will discuss the company's performance and answer questions from participants. To participate in this conference call, please dial the numbers provided below five to ten minutes ahead of the scheduled start time. The dial-in number for this call is +91 22 3065 2542/ 6629 5889 (accessible through all mobiles and landline services). Other toll numbers are listed in the conference call invite which is posted on the company website www.biocon.com . The operator will provide instructions on asking questions before the start of the call. A replay of this call will also be available from October 31, 2012 - November 6, 2012 on the same dial-in numbers provided above. The transcript of the conference call will be posted on the company website.
To view the Fact sheet and press release, please click on the link given below:
Biocon Press Release Q2 FY13_final consolidated
Fact Sheet - Q2 FY13- Crores
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Biocon_Press_Release_H1_FY13_F2.pdf
Biocon_Press_Release_H1_FY13_F2.pdf
http://www.BusinessWireIndia.com/attachments/Fact_Sheet_rvd_Q2_FY13_Crores(1).pdf
Fact_Sheet_rvd_Q2_FY13_Crores(1).pdf
CONTACT DETAILS
Sweta Pachlangiya (Investor Relations), +91 9686509372, sweta.pachlangiya@biocon.com
Seema Ahuja ( Media Relations ), +91 9972317792, seema.ahuja@biocon.com
Varija Beliappa ( Media Relations ), +91 (80) 28082808, varija.beliappa@biocon.com
KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BUSINESS SERVICES, Financial Analyst, HEALTHCARE, GROUPS, STOCK EXCHANGES, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Biocon Limited
Tuesday, October 30, 2012 11:55 PM IST (06:25 PM GMT)
Editors: General: Consumer interest, Economy, People; Business: Business services, Financial Analyst, Healthcare, biotechnology & pharmaceutical, Major diversified industrial groups, Stock exchanges; Healthcare
--------------------------------------------------
Biocon delivers Healthy Growth in H1FY13
Research Services & Branded Formulations propel strong growth.
Bangalore, Karnataka, India, Tuesday, October 30, 2012 -- (Business Wire India) -- Revenues: Rs. 1,235 Crores EBITDA: Rs. 305 Crores PAT: Rs. 169 Crores
Commenting on the results, Chairman and Managing Director Kiran Mazumdar-Shaw stated, "We continue to deliver good performance across verticals this fiscal. At the half year, we have seen a 23% YoY increase in revenues attributable to both volume growth as well as better export realization on account of a depreciating rupee. APIs and Biosimilar Insulins have seen significant business expansion in the emerging markets. Branded Formulations and Research Services continue to deliver strong growth. R&D expenditure has risen significantly this fiscal and stands at Rs. 79 cores for H1, a 54% increase over the same period last fiscal. This reflects the progress made by our various Biosimilars and novel molecule programs in the clinic including a European Phase III trial for rh-Insulin which has generated positive interim data. Whilst this has muted profitability, R&D remains a key investment to drive exponential growth in the future. Imported Raw Materials, Power and Personnel costs have also increased by 27%. Despite this, PAT has grown 8% to Rs. 169 Crores for H1 this fiscal. We see this growth momentum continuing for the remaining two quarters.
I am also pleased to report that the prestigious Science magazine ranked Biocon amongst the Global Top 20 Best Employers, which reflects the quality of our human resources and the enabling ecosystem at Biocon.
Finally, I am pleased to announce the proposed investment by GE Capital in our subsidiary Syngene, which we believe establishes a base valuation, an important milestone towards the future public offering."
Highlights:
-- H1 FY13 financials manifest the protracted momentum across verticals:
-- Biopharma Business: 15% YoY increase
-- Branded Formulations: 45% YoY growth
-- Research Services (Syngene and Clinigene): 40% YoY.
-- EBITDA and PAT margins at 25% and 14% respectively.
-- Interim data from EU Phase III trial for biosimilar rh-Insulin indicates achievement of both primary and secondary endpoints.
-- GE Capital proposes to invest Rs. 125 Crores as private equity in Syngene
-- Becomes the only Asian Company to feature in the 'Science' magazine's 2012 global 'Top 20 Employer list' in the biotech & pharma sector.
Business Performance (Vertical-wise)
H1 FY 13 Revenue Summary (in Crores)
Bio Pharma: Rs. 734, Branded Formulations: Rs. 178, Research Services: Rs. 252
Small Molecules & Biosimilars
The biopharma business reported a healthy growth of 15% YoY in the first half of this fiscal, led by a strong performance of Immuno-suppressants, Insulins, Fidaxomicin and Orlistat.
Interim results from the Phase III clinical study for Biocon's biosimilar rh-Insulin in EU, have demonstrated comparable efficacy and safety between our offering and the innovator product. The trial has met its efficacy end point with a comparable immunogenicity and safety profile. The second part of the study evaluating additional safety and immunogenicity parameters is ongoing. These encouraging results will be pivotal in our regulatory and MAA submissions.
"This data along with extensive characterization and PK-PD data generated to date with Biocon's regular and isophane insulin demonstrate comparability with the innovator products", said Dr. Abhijit Barve, President R&D of Biocon. "This was our first global study for rh-Insulin and we are pleased with the outcome. These data and our recent positive PK-PD data for Biosimilar Glargine enable us to pursue our global development strategy for Biosimilar Insulins."
Branded Formulations
The branded formulations business continues to build momentum and recorded a robust growth of 45% YoY. Insugen® and Basalog®, our key brands in Diabetology and Abraxane® & BioMAb EGFR®, lead brands of Oncology, along with several other molecules of Cardiology, Nephrology, Comprehensive Care and Immunotherapy divisions continued to do well and have contributed to this steady growth. A number of our recent offerings have entered into the Top 3 product rankings in their categories. Notable amongst these are: Psorid® (#1), Picon® (#2), Tbis® (#2) and Albubet® (#3).
Commenting on the traction in the branded formulations segment, Rakesh Bamzai, President Marketing, Biocon Limited said, "The continual growth of our branded formulations business is a reflection of the strong product portfolio and the success of our engagement programs with doctors and patients alike. We remain committed to offering differentiated products that provide the 'best in class' affordable treatment options to patients"
Novel Molecules
Our Novel Molecules business continued to progress well during the reporting period. We are in advanced stages of finalizing our co-development agreement for IN-105 (Oral Insulin). We have initiated engagement with potential partners for out licensing Itolizumab (Anti CD6 Monoclonal Antibody) for the global markets. We have recently reported positive data for Itolizumab from an India centric Phase III trial for Psoriasis. This has enabled us to file with the DCGI for marketing authorization in India. We intend to initiate further clinical trials for Itolizumab in other promising indications like Multiple Sclerosis, Vitiligo and Rheumatoid Arthritis.
An important development during this quarter is our decision to exit from our partnered program with Amylin Pharmaceuticals following its acquisition by BMS. AC165198, Amylin's proprietary molecule, was being jointly developed as a novel diabetes treatment agent. A change in control at Amylin provides Biocon with an exit option which it has exercised. This will enable Biocon to focus its resources to other advancing programs.
Research Services
The first half of FY13 witnessed strong momentum for our research services arm, which grew by 40% YoY. Commenting on this performance, Peter Bains, Director Syngene International, said
"Q2 delivered a sales growth of 39 % YoY, which when seen in conjunction with our Q1 results, reflect a very robust performance in the first half of FY13. Our strategy of continuous investments in enhancing and expanding our capabilities, across discovery and development services, has helped us stay ahead of the curve. We see a continuous evolution in the nature of our client relationships- with both existing and new clients. Our client engagement is shifting towards strategic partnerships designed to leverage Syngene and Clinigene's comprehensive service offerings. The endeavor is aimed at developing more customized and strategically integrated discovery and development partnerships that directly address the innovation and productivity goals of our clients. On the back of a number of our new contracts, our order book is robust and we are well placed to see continued momentum through this fiscal and into the next year."
Research Services: Equity Investment by GE Capital
GE Equity International Mauritius, a subsidiary of GE Capital, will make a private equity investment in Syngene International to the tune of Rs. 125 Crores, for a 7.69% equity share. The investment is subject to standard condition precedents including regulatory approvals.
Commenting on this development, Ms. Kiran Mazumdar-Shaw, Chairman & Managing Director, Biocon said, "GE Capital's investment in Syngene is a validation of our research services business model which has delivered consistent value to our partners as well as other stakeholders. This takes us closer to our commitment of taking Syngene through an IPO at the most opportune time."
Outlook
The business outlook remains positive. With a number of our biosimilar & novel programs entering the clinics, we have witnessed an upsurge in our Research & development costs, which indicates potential upsides in the long term. Our biosimilar Trastuzumab is undergoing a Global Phase I and an India Phase III clinical trial. A number of our other biosimilar & novel programs are set to move to the next phase in the development cycle like our biosimilar Insulin Glargine that is expected to commence its Global Phase III trial shortly.
Commenting on Biocon's operations, Dr. Arun Chandavarkar, COO Biocon Limited, said "We are confident of delivering on the significant opportunities represented by the high value product portfolio within each of our strategic growth drivers. Whilst the near term opportunity continues to be in India and other emerging markets, we are on track with our R&D investments and global clinical programs to take our biosimilars to the developed markets in the next few years. We are also on track to unlock value from some of our late stage novel molecule assets through partnering."
About Biocon
Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's premier biotechnology company with a strategic focus on biopharmaceuticals and research services. Established in 1978 by Dr. Kiran Mazumdar-Shaw, the Group is an integrated, innovation-driven healthcare enterprise with offerings that traverse the entire drug development value chain. Balancing its novel molecule research pipeline with a diversified product portfolio, Biocon delivers affordable solutions to partners and customers in over 75 countries across the globe. Many of these products have USFDA and EMA acceptance. Stellar products from Biocon's stable include the world's first Pichia-based recombinant human insulin, INSUGEN® and insulin glargine, BASALOG® coupled with a state of the art insulin pen device, INSUPen® and India's first indigenously produced monoclonal antibody BioMAb-EGFR®. Please visit www.biocon.com for more details.
Disclaimer
Certain statements in this release concerning our future growth prospects are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others general economic and business conditions in India, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither our company, our directors, nor any of our affiliates, have any obligation to update or otherwise revise any statements reflecting circumstances arising after this date or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition.
Earnings Call
The company will conduct an hour long call at 03:15 pm IST on October 31, 2012 where the senior management will discuss the company's performance and answer questions from participants. To participate in this conference call, please dial the numbers provided below five to ten minutes ahead of the scheduled start time. The dial-in number for this call is +91 22 3065 2542/ 6629 5889 (accessible through all mobiles and landline services). Other toll numbers are listed in the conference call invite which is posted on the company website www.biocon.com . The operator will provide instructions on asking questions before the start of the call. A replay of this call will also be available from October 31, 2012 - November 6, 2012 on the same dial-in numbers provided above. The transcript of the conference call will be posted on the company website.
To view the Fact sheet and press release, please click on the link given below:
Biocon Press Release Q2 FY13_final consolidated
Fact Sheet - Q2 FY13- Crores
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Biocon_Press_Release_H1_FY13_F2.pdf
Biocon_Press_Release_H1_FY13_F2.pdf
http://www.BusinessWireIndia.com/attachments/Fact_Sheet_rvd_Q2_FY13_Crores(1).pdf
Fact_Sheet_rvd_Q2_FY13_Crores(1).pdf
CONTACT DETAILS
Sweta Pachlangiya (Investor Relations), +91 9686509372, sweta.pachlangiya@biocon.com
Seema Ahuja ( Media Relations ), +91 9972317792, seema.ahuja@biocon.com
Varija Beliappa ( Media Relations ), +91 (80) 28082808, varija.beliappa@biocon.com
KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BUSINESS SERVICES, Financial Analyst, HEALTHCARE, GROUPS, STOCK EXCHANGES, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Tuesday, October 30, 2012
BWI: Steria Reports Revenue of €448 million for the Third Quarter of 2012
Press release from Business Wire India
Source: Steria
Tuesday, October 30, 2012 06:28 PM IST (12:58 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Information technology, Major diversified industrial groups, Stock exchanges; Technology
--------------------------------------------------
Steria Reports Revenue of ?448 million for the Third Quarter of 2012
Noida, Uttar Pradesh, Pune, Maharashtra, Chennai, Tamil Nadu, India, Tuesday, October 30, 2012 -- (Business Wire India) -- -- Over the first nine months of 2012, consolidated revenue increased by 7.6% (+3% on a like-for-like basis)
-- During the third quarter, revenue growth was 8.7% (+2.5% on a like-for-like basis)
-- At September 30, 2012, the book to bill ratio stood at 0.98 (1.0 at September 30, 2011)
First nine months 2012 consolidated revenue, revenue by geographical region, revenue by business .
Activity for the third quarter 2012
Third quarter revenue 2012 by geographical region
Over the third quarter 2012, organic revenue growth was 2.5%. In a difficult environment overall, the trend was positive in the Public (+2%), Insurance (+6%) and Utilities/Transport/Telecommunications (+10%) sectors. For its part, the Banking sector posted negative growth of 2%.
At September 30 2012, the book to bill ratio stood at 0.98 (1.0 at September 30, 2011) and the pipeline amounted to 2.1 times projected revenue, a level similar to that of September 30, 2011.
In the United Kingdom, third quarter revenue which was relative to a high base (+6.4% in the third quarter 2011) contracted by 1.0% on a like-for-like basis. The Public sector continued to be positively oriented (+2%) as was the Utilities/Transport/Telecommunications sector (+1%) while the Banking sector remained in decline. At September 30, 2012, the book to bill ratio amounted to 0.9, identical to its level on the same date of the previous year.
In France, the organic revenue growth for the quarter remained, at +6.1%, well above average for the market, underpinned by the Banking sector, despite a slowdown, and by the Utilities/Transport/Telecommunications sector which benefitted from a positive dynamic in Energy and the development phase of the EcoTaxe project. Over the first nine months of the year, order intake was up by 20% leading, at September 30, 2012, to a book to bill ratio of 1.2 (1.1 at September 30, 2011).
In Germany, the third quarter (+3.3%) was characterised by an improvement in the Banking sector and in Utilities/Transport/Telecommunications whose growth returned to positive territory. The Public sector, which also saw an improvement, remained however negatively oriented. At September 30, 2012, the book to bill ratio stood at 1.01 (1.24 at September 30, 2011).
In the Other Europe region, organic growth of 4.1% benefited from an improvement in the commercial dynamic in Scandinavia and a favourable base effect in Belgium, Spain having posted a 10.6% decline over the quarter.
Outlook
Within the framework of the ongoing review of the activity portfolio, on October 23 Steria announced the forthcoming sale of Steria Iberica, a transaction which should be accretive by around 30 basis points for the operating margin rate on an annual basis.
The Group also confirmed the implementation of a plan launched in the third quarter of this year, aimed at operating cost savings of ?15 million to ?18 million in 2013 thanks to the optimisation of the portfolio of activities, internal efficiencies and industrial productivity.
Steria is listed for trading on NYSE Euronext Paris, Eurolist (Section B)
ISIN Code: FR0000072910, Bloomberg Code: RIA FP, Reuters Code: TERI.PA
General Indices SBF 120, NEXT 150
CAC MID&SMALL, CAC MID 60, CAC Soft&CS, CAC Technology, Euronext FAS IAS
For further information, see the website: http://www.steria.com
About Steria: www.steria.com
Steria delivers IT enabled business services which help organisations in the public and private sectors to operate more efficiently and profitably. By combining in-depth understanding of its clients' businesses with expertise in IT and business process outsourcing, Steria takes on clients' challenges and develops innovative solutions to address them. Through its highly collaborative consulting style, the company works with clients to transform their businesses, enabling them to focus on what they do best. Steria's 20,000 people, working across 16 countries, support the systems, services and processes that make today's world turn, touching the lives of millions around the globe each day.
Founded in 1969, Steria has offices in Europe, India, North Africa and South East Asia and generated 2011 revenues of ?1.75 billion. Twenty-one per cent (*) of Steria's capital is owned by its employees. Headquartered in Paris, Steria is listed for trading on the Euronext Paris market.
(*): Including the Employees Shares Trust in the United Kingdom
To view the press release with tables, please click on the link below:
Press Release with Tables
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/consolidated_revenue.pdf
consolidated_revenue.pdf
http://www.BusinessWireIndia.com/attachments/Third_quarter.pdf
Third_quarter.pdf
http://www.BusinessWireIndia.com/attachments/Steria_Q3_2012_revenue_press_release(1).pdf
Steria_Q3_2012_revenue_press_release(1).pdf
CONTACT DETAILS
Olivier Psaume (Investor Relations), +33 1 34 88 55 60 / +33 6 17 64 29 39, olivier.psaume@steria.com
Sachdev Ramakrishna, Director Marketing, Steria (India) Ltd, +91 9871715438
Groupe Steria Press Office, Hotwire, +33 1 43 12 55 52 / 62, steriagroup@hotwirepr.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, IT, GROUPS, STOCK EXCHANGES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Steria
Tuesday, October 30, 2012 06:28 PM IST (12:58 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Information technology, Major diversified industrial groups, Stock exchanges; Technology
--------------------------------------------------
Steria Reports Revenue of ?448 million for the Third Quarter of 2012
Noida, Uttar Pradesh, Pune, Maharashtra, Chennai, Tamil Nadu, India, Tuesday, October 30, 2012 -- (Business Wire India) -- -- Over the first nine months of 2012, consolidated revenue increased by 7.6% (+3% on a like-for-like basis)
-- During the third quarter, revenue growth was 8.7% (+2.5% on a like-for-like basis)
-- At September 30, 2012, the book to bill ratio stood at 0.98 (1.0 at September 30, 2011)
First nine months 2012 consolidated revenue, revenue by geographical region, revenue by business .
Activity for the third quarter 2012
Third quarter revenue 2012 by geographical region
Over the third quarter 2012, organic revenue growth was 2.5%. In a difficult environment overall, the trend was positive in the Public (+2%), Insurance (+6%) and Utilities/Transport/Telecommunications (+10%) sectors. For its part, the Banking sector posted negative growth of 2%.
At September 30 2012, the book to bill ratio stood at 0.98 (1.0 at September 30, 2011) and the pipeline amounted to 2.1 times projected revenue, a level similar to that of September 30, 2011.
In the United Kingdom, third quarter revenue which was relative to a high base (+6.4% in the third quarter 2011) contracted by 1.0% on a like-for-like basis. The Public sector continued to be positively oriented (+2%) as was the Utilities/Transport/Telecommunications sector (+1%) while the Banking sector remained in decline. At September 30, 2012, the book to bill ratio amounted to 0.9, identical to its level on the same date of the previous year.
In France, the organic revenue growth for the quarter remained, at +6.1%, well above average for the market, underpinned by the Banking sector, despite a slowdown, and by the Utilities/Transport/Telecommunications sector which benefitted from a positive dynamic in Energy and the development phase of the EcoTaxe project. Over the first nine months of the year, order intake was up by 20% leading, at September 30, 2012, to a book to bill ratio of 1.2 (1.1 at September 30, 2011).
In Germany, the third quarter (+3.3%) was characterised by an improvement in the Banking sector and in Utilities/Transport/Telecommunications whose growth returned to positive territory. The Public sector, which also saw an improvement, remained however negatively oriented. At September 30, 2012, the book to bill ratio stood at 1.01 (1.24 at September 30, 2011).
In the Other Europe region, organic growth of 4.1% benefited from an improvement in the commercial dynamic in Scandinavia and a favourable base effect in Belgium, Spain having posted a 10.6% decline over the quarter.
Outlook
Within the framework of the ongoing review of the activity portfolio, on October 23 Steria announced the forthcoming sale of Steria Iberica, a transaction which should be accretive by around 30 basis points for the operating margin rate on an annual basis.
The Group also confirmed the implementation of a plan launched in the third quarter of this year, aimed at operating cost savings of ?15 million to ?18 million in 2013 thanks to the optimisation of the portfolio of activities, internal efficiencies and industrial productivity.
Steria is listed for trading on NYSE Euronext Paris, Eurolist (Section B)
ISIN Code: FR0000072910, Bloomberg Code: RIA FP, Reuters Code: TERI.PA
General Indices SBF 120, NEXT 150
CAC MID&SMALL, CAC MID 60, CAC Soft&CS, CAC Technology, Euronext FAS IAS
For further information, see the website: http://www.steria.com
About Steria: www.steria.com
Steria delivers IT enabled business services which help organisations in the public and private sectors to operate more efficiently and profitably. By combining in-depth understanding of its clients' businesses with expertise in IT and business process outsourcing, Steria takes on clients' challenges and develops innovative solutions to address them. Through its highly collaborative consulting style, the company works with clients to transform their businesses, enabling them to focus on what they do best. Steria's 20,000 people, working across 16 countries, support the systems, services and processes that make today's world turn, touching the lives of millions around the globe each day.
Founded in 1969, Steria has offices in Europe, India, North Africa and South East Asia and generated 2011 revenues of ?1.75 billion. Twenty-one per cent (*) of Steria's capital is owned by its employees. Headquartered in Paris, Steria is listed for trading on the Euronext Paris market.
(*): Including the Employees Shares Trust in the United Kingdom
To view the press release with tables, please click on the link below:
Press Release with Tables
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/consolidated_revenue.pdf
consolidated_revenue.pdf
http://www.BusinessWireIndia.com/attachments/Third_quarter.pdf
Third_quarter.pdf
http://www.BusinessWireIndia.com/attachments/Steria_Q3_2012_revenue_press_release(1).pdf
Steria_Q3_2012_revenue_press_release(1).pdf
CONTACT DETAILS
Olivier Psaume (Investor Relations), +33 1 34 88 55 60 / +33 6 17 64 29 39, olivier.psaume@steria.com
Sachdev Ramakrishna, Director Marketing, Steria (India) Ltd, +91 9871715438
Groupe Steria Press Office, Hotwire, +33 1 43 12 55 52 / 62, steriagroup@hotwirepr.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, IT, GROUPS, STOCK EXCHANGES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
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BWI: AGC Networks Announces 17% Revenue Growth for the H1 - FY13 with Revenues of INR 282 crs for Q2 - FY13 and Recommends BONUS in the Ratio of 1:1
Press release from Business Wire India
Source: AGC Networks Ltd.
Tuesday, October 30, 2012 06:11 PM IST (12:41 PM GMT)
Editors: General: People; Business: Banking & financial services, Business services, Information technology; Technology
--------------------------------------------------
AGC Networks Announces 17% Revenue Growth for the H1 - FY13 with Revenues of INR 282 crs for Q2 - FY13 and Recommends BONUS in the Ratio of 1:1
Mumbai, Maharashtra, India, Tuesday, October 30, 2012 -- (Business Wire India) -- -- AGC Networks plans expansion in new geographies like North America, Philippines, MEA etc.
AGC Networks Limited, (BSE: 500463 and NSE: AGCNET) , a Global ICT Solutions provider and Integrator in Unified Communication, Network Infrastructure, Data Centre & Virtualization and Enterprise Applications and a subsidiary of Aegis Limited, an Essar enterprise, today announced financial results for Q2, FY13.
Financial Highlights (Q2FY13 as compared to Q1FY13)
Strategic Highlights
-- AGC has established a firm presence in 12 regions across 4 Global markets with the wins of a Public Sector Bank, one of the largest state power utilities and one of the largest Radio cab companies.
-- The quarter was witness to AGC Networks being awarded 'Microsoft Gold
Partnership - Communications' competency demonstrating technology success and customer commitment
-- AGC was awarded with ISO/IEC 27001:2005 certification conducted by Det Norske Veritas Business Assurance (DNV) which is one of the world's leading certification bodies/registrars offering the latest in management systems certification services
-- The Services business witness a 44% growth over the last quarter and Unified communications witnessed a 9% over the last quarter
Speaking on the results, Mr. S K Jha, Managing Director & CEO at AGC Networks said, "AGC has been showing and delivering substantial growth not just in terms of the quarter but in terms of delivering differentiated customer value for the long term. We are focused on our strategy to help reach out to new geographies 'enabling customer experience' to more customers and continuing to make substantial investments in the newer geographies."
Mr. C.M. Sharma, Global Chief Financial Officer said: "The second quarter results highlight the growth that AGC Networks continues to achieve over and above the market growth. Continued investment in broadening our solutions portfolio and our geographic expansion, will help us continue this momentum in the coming quarters."
About AGC Networks:
AGC Networks Ltd. (BSE: 500463 and NSE: AGCNET) is a Global Solutions Integrator in Unified Communications, Network infrastructure, Data Center & Virtualization and Enterprise Applications. AGC has been delivering customized business solutions that help organizations accelerate revenue growth, increase market penetration, optimize operating costs and improve employee productivity, by embedding technology solutions in their business processes. It has always been committed to enabling superior customer experience and offering best returns on their technology investments. It partners with global leaders like Avaya, Juniper, NICE Systems, Aspect, Verint, HP, Polycom, Cisco, Microsoft, NEC, Sony, Plantronics, EMC, Dialogic, NetApp, Checkpoint and Jabra among others. AGC Networks is a subsidiary of Aegis Limited, an Essar Enterprise. For more information log on to http://www.agcnetworks.com/.
About Aegis:
Aegis is a global consulting, technology, outsourcing and training & education company committed to impacting clients' business outcomes by focusing on enhancing customer experience across all touch points and channels. Aegis was founded 30 years ago in the US and now has operations in 55 locations across 13 countries with more than 55,000 employees. Aegis services over 300 clients from verticals such as Banking, Financial Services & Insurance, Technology, Telecom, Healthcare, Travel & Hospitality, Consumer Goods, Retail, and Energy & Utilities. The company is wholly owned by the Essar Group, a USD 27 billion conglomerate.
For more information, visit www.aegisglobal.com or follow us on Facebook (www.facebook.com/aegisglobal) and Twitter (@aegisonline).
To view the Financial Highlights, please click on the link given below:
Financial Highlights
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Financial Highlight.pdf
Financial Highlight.pdf
CONTACT DETAILS
Neelam Kapoor, AGC Networks Ltd., +91 9819730611, neelam.kapoor@agcnetworks.com
Akanksha Mishra, 20:20 MSL, +91 9930338901, akanksha.mishra@2020msl.com
Manali Parmar, 20:20 MSL, +91 9833975722, manali.parmar@2020msl.com
Kashmeera Chhabra, Investor, AGC Networks Ltd., +91 9930136721, Kashmeera.chhabra@agcnetworks.com
KEYWORDS
PEOPLE, BANKING, BUSINESS SERVICES, IT, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: AGC Networks Ltd.
Tuesday, October 30, 2012 06:11 PM IST (12:41 PM GMT)
Editors: General: People; Business: Banking & financial services, Business services, Information technology; Technology
--------------------------------------------------
AGC Networks Announces 17% Revenue Growth for the H1 - FY13 with Revenues of INR 282 crs for Q2 - FY13 and Recommends BONUS in the Ratio of 1:1
Mumbai, Maharashtra, India, Tuesday, October 30, 2012 -- (Business Wire India) -- -- AGC Networks plans expansion in new geographies like North America, Philippines, MEA etc.
AGC Networks Limited, (BSE: 500463 and NSE: AGCNET) , a Global ICT Solutions provider and Integrator in Unified Communication, Network Infrastructure, Data Centre & Virtualization and Enterprise Applications and a subsidiary of Aegis Limited, an Essar enterprise, today announced financial results for Q2, FY13.
Financial Highlights (Q2FY13 as compared to Q1FY13)
Strategic Highlights
-- AGC has established a firm presence in 12 regions across 4 Global markets with the wins of a Public Sector Bank, one of the largest state power utilities and one of the largest Radio cab companies.
-- The quarter was witness to AGC Networks being awarded 'Microsoft Gold
Partnership - Communications' competency demonstrating technology success and customer commitment
-- AGC was awarded with ISO/IEC 27001:2005 certification conducted by Det Norske Veritas Business Assurance (DNV) which is one of the world's leading certification bodies/registrars offering the latest in management systems certification services
-- The Services business witness a 44% growth over the last quarter and Unified communications witnessed a 9% over the last quarter
Speaking on the results, Mr. S K Jha, Managing Director & CEO at AGC Networks said, "AGC has been showing and delivering substantial growth not just in terms of the quarter but in terms of delivering differentiated customer value for the long term. We are focused on our strategy to help reach out to new geographies 'enabling customer experience' to more customers and continuing to make substantial investments in the newer geographies."
Mr. C.M. Sharma, Global Chief Financial Officer said: "The second quarter results highlight the growth that AGC Networks continues to achieve over and above the market growth. Continued investment in broadening our solutions portfolio and our geographic expansion, will help us continue this momentum in the coming quarters."
About AGC Networks:
AGC Networks Ltd. (BSE: 500463 and NSE: AGCNET) is a Global Solutions Integrator in Unified Communications, Network infrastructure, Data Center & Virtualization and Enterprise Applications. AGC has been delivering customized business solutions that help organizations accelerate revenue growth, increase market penetration, optimize operating costs and improve employee productivity, by embedding technology solutions in their business processes. It has always been committed to enabling superior customer experience and offering best returns on their technology investments. It partners with global leaders like Avaya, Juniper, NICE Systems, Aspect, Verint, HP, Polycom, Cisco, Microsoft, NEC, Sony, Plantronics, EMC, Dialogic, NetApp, Checkpoint and Jabra among others. AGC Networks is a subsidiary of Aegis Limited, an Essar Enterprise. For more information log on to http://www.agcnetworks.com/.
About Aegis:
Aegis is a global consulting, technology, outsourcing and training & education company committed to impacting clients' business outcomes by focusing on enhancing customer experience across all touch points and channels. Aegis was founded 30 years ago in the US and now has operations in 55 locations across 13 countries with more than 55,000 employees. Aegis services over 300 clients from verticals such as Banking, Financial Services & Insurance, Technology, Telecom, Healthcare, Travel & Hospitality, Consumer Goods, Retail, and Energy & Utilities. The company is wholly owned by the Essar Group, a USD 27 billion conglomerate.
For more information, visit www.aegisglobal.com or follow us on Facebook (www.facebook.com/aegisglobal) and Twitter (@aegisonline).
To view the Financial Highlights, please click on the link given below:
Financial Highlights
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Financial Highlight.pdf
Financial Highlight.pdf
CONTACT DETAILS
Neelam Kapoor, AGC Networks Ltd., +91 9819730611, neelam.kapoor@agcnetworks.com
Akanksha Mishra, 20:20 MSL, +91 9930338901, akanksha.mishra@2020msl.com
Manali Parmar, 20:20 MSL, +91 9833975722, manali.parmar@2020msl.com
Kashmeera Chhabra, Investor, AGC Networks Ltd., +91 9930136721, Kashmeera.chhabra@agcnetworks.com
KEYWORDS
PEOPLE, BANKING, BUSINESS SERVICES, IT, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Ista Hotels to be Rebranded as Hyatt Hotels
Press release from Business Wire India
Source: Hyatt Hotels
Tuesday, October 30, 2012 05:51 PM IST (12:21 PM GMT)
Editors: General: Consumer interest, Food & drink, Lifestyle, People, Travel & tourism; Business: Advertising, PR & marketing, Business services, Hospitality, Major diversified industrial groups, Travel & tourism
--------------------------------------------------
Ista Hotels to be Rebranded as Hyatt Hotels
Strategic tie up for hotels in Bangalore, Hyderabad, Pune, Amritsar, and Ahmedabad
Chicago, United States, Tuesday, October 30, 2012 -- (Business Wire India) -- Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has signed management agreements with IHHR Hospitality Private Limited (IHHR) for five Ista hotels in India to be re-branded by Hyatt. Under the agreement, the fully operational Ista hotels will be known as Hyatt Bangalore, Hyatt Pune, Hyatt Hyderabad, Hyatt Ahmedabad and Hyatt Amritsar. The branding effort is expected to be completed by March 2013. The agreements were signed by both parties on October 29, 2012 in London.
Each of the five Ista hotels enjoy premium locations within their respective cities and reflect a contemporary and modern design that offers the business traveller a convenient and stylish place to live, dine and meet. In recognition of their standing as one of India's most successful home-grown brands, Ista Bangalore and Ista Hyderabad have been awarded a position on the Condé Nast Traveller's prestigious Hot List in 2006 and 2007, respectively. They were also ranked among the top business hotels in South Asia by Travel + Leisure magazine.
"As a company we see a perfect fit with IHHR's forward-thinking philosophy and vision," said Ratnesh Verma, Senior Vice President, Real Estate and Development for Hyatt Hotels & Resorts in Asia-Pacific. "We feel honored to have been selected as the new brand for their portfolio in India. It is our constant endeavour to create preference for our brand by having hotels in markets where our customers are travelling. This opportunity allows Hyatt to further consolidate its distribution in India and offer its guests a choice in new markets such as Bangalore, Amritsar and Ahmedabad. The re-branding will also enhance our representation with a great collection of high quality hotels that are already recognised as market leaders in guest experience and performance."
The mutually beneficial association between the two hospitality companies will, in turn, enable the five hotels to enlarge their global reach, become a part of Hyatt's popular Hyatt Gold Passport loyalty program and other marketing initiatives, take advantage of Hyatt's well-established systems and processes, and participate in Hyatt's extensive network of hotels in 45 countries. This deal will also allow IHHR to re-focus its efforts on further developments and its other brands, which include the award-winning destination spa brand Ananda in the Himalayas.
Ashok Khanna, managing director of IHHR said, "We are proud of our achievement in establishing the five Ista Hotels since the inception of the brand in 2006. We wanted to tap into the confidence and power of young India, so we listened to what those customers wanted and worked with excellent architects and designers to create Ista. Clearly we got it right, because we won awards from the writers and readers of highly respected publications. The time is now right to step back to our role as owners and hand these Ista hotels to a superb brand in Hyatt, which can take the business to the next level, through its marketing and brand strength. We are delighted with this relationship."
"The association with IHHR comes at a particularly poignant time for us at Hyatt as we will mark 30 years since Hyatt Regency Delhi opened as the first Hyatt hotel in India's capital. Since then, nine more hotels have opened under various Hyatt brands in India; and with the addition of the five Ista hotels, our portfolio stands at 15 business and resort hotels in India. We want to continue building on our brand's long presence and relationships in the country and are fortunate to be a major part of the Indian hospitality industry today. We are grateful to all our developers, owners and guests for their belief and trust in Hyatt," adds Verma.
The re-branding of the five Ista hotels as Hyatt Hotels, will mark the entry of the fourth brand from the company's portfolio into India. Currently, India has five Hyatt Regency hotels in Mumbai, Pune, Delhi, Chennai and Kolkata, two Grand Hyatt hotels in Mumbai and Goa, and three Park Hyatt hotels in Goa, Chennai and Hyderabad. There are currently more than 50 Hyatt-branded hotels under development in India, which are expected to add more than 12,000 rooms. The Hyatt Place brand will be the next to enter India, with Hyatt Place Hampi opening later this year, followed by Hyatt Place Pune, Hinjewadi. The next six months will also mark the opening of three other Hyatt hotels in India - Hyatt Regency Gurgaon, Hyatt Regency Ludhiana and Hyatt Raipur.
About Hyatt
Hyatt hotels are smaller-sized properties conveniently located in proximity to diverse business and leisure areas. With hotels typically ranging from 150 to 350 rooms, Hyatt hotels offer guests the opportunity to experience our hospitality in a vibrant environment. Customers include individual business and leisure travelers, and Hyatt hotels can accommodate smaller scale business meetings and social gatherings.
About IHHR
IHHR Hospitality Private Limited (IHHR) is the company behind the award-winning Ista and Ananda brands. Founded in 1998, IHHR owns and manages destination spas and also leisure and business hotels throughout India. Its mission is to be known as a creative hotel chain offering world-class hospitality with an Indian heart. Its flagship property is Ananda in the Himalayas.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt HouseTM brand names and has locations on six continents. Hyatt House is changing its brand identity from Hyatt Summerfield Suites®. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of June 30, 2012, the Company's worldwide portfolio consisted of 492 properties in 45 countries. For more information, please visit www.hyatt.com .
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about our plans, strategies, occupancy and ADR trends, market share, the number of properties we expect to open in the future, our expected adjusted SG&A expense, capital expenditures, depreciation and amortization expense, interest expense and effective tax rate, estimates, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, general economic uncertainty in key global markets, the rate and pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; our ability to successfully execute and implement our organizational realignment and the costs associated with such organizational realignment; our ability to successfully execute and implement our common stock repurchase program; loss of key personnel, including as a result of our organizational realignment; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; foreign exchange rate fluctuations or currency restructurings; general volatility of the capital markets; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
CONTACT DETAILS
Yasmin D. Poonegar, Hyatt, +971 50 1891262, yasmin.poonegar@hyatt.com
Simran Kodesia, Ipan Hill+Knowlton Strategies India, +91 9920962187, skodesia@ipanhillandknowlton.com
Sophie Goodale, Vice President, Corporate Communications (IHHR Contacts), C&C Alpha Group, +44 20 7630 0808, sophie.goodale@ccalphagroup.co.uk
Pippa Isbell, Chief Executive (IHHR Contacts), PRCo Ltd, + 44 7775 703725, pisbell@prco.com
KEYWORDS
CONSUMER, FOOD, LIFESTYLE, PEOPLE, TOURISM, MARKETING, BUSINESS SERVICES, HOSPITALITY, GROUPS, TRAVEL
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Hyatt Hotels
Tuesday, October 30, 2012 05:51 PM IST (12:21 PM GMT)
Editors: General: Consumer interest, Food & drink, Lifestyle, People, Travel & tourism; Business: Advertising, PR & marketing, Business services, Hospitality, Major diversified industrial groups, Travel & tourism
--------------------------------------------------
Ista Hotels to be Rebranded as Hyatt Hotels
Strategic tie up for hotels in Bangalore, Hyderabad, Pune, Amritsar, and Ahmedabad
Chicago, United States, Tuesday, October 30, 2012 -- (Business Wire India) -- Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has signed management agreements with IHHR Hospitality Private Limited (IHHR) for five Ista hotels in India to be re-branded by Hyatt. Under the agreement, the fully operational Ista hotels will be known as Hyatt Bangalore, Hyatt Pune, Hyatt Hyderabad, Hyatt Ahmedabad and Hyatt Amritsar. The branding effort is expected to be completed by March 2013. The agreements were signed by both parties on October 29, 2012 in London.
Each of the five Ista hotels enjoy premium locations within their respective cities and reflect a contemporary and modern design that offers the business traveller a convenient and stylish place to live, dine and meet. In recognition of their standing as one of India's most successful home-grown brands, Ista Bangalore and Ista Hyderabad have been awarded a position on the Condé Nast Traveller's prestigious Hot List in 2006 and 2007, respectively. They were also ranked among the top business hotels in South Asia by Travel + Leisure magazine.
"As a company we see a perfect fit with IHHR's forward-thinking philosophy and vision," said Ratnesh Verma, Senior Vice President, Real Estate and Development for Hyatt Hotels & Resorts in Asia-Pacific. "We feel honored to have been selected as the new brand for their portfolio in India. It is our constant endeavour to create preference for our brand by having hotels in markets where our customers are travelling. This opportunity allows Hyatt to further consolidate its distribution in India and offer its guests a choice in new markets such as Bangalore, Amritsar and Ahmedabad. The re-branding will also enhance our representation with a great collection of high quality hotels that are already recognised as market leaders in guest experience and performance."
The mutually beneficial association between the two hospitality companies will, in turn, enable the five hotels to enlarge their global reach, become a part of Hyatt's popular Hyatt Gold Passport loyalty program and other marketing initiatives, take advantage of Hyatt's well-established systems and processes, and participate in Hyatt's extensive network of hotels in 45 countries. This deal will also allow IHHR to re-focus its efforts on further developments and its other brands, which include the award-winning destination spa brand Ananda in the Himalayas.
Ashok Khanna, managing director of IHHR said, "We are proud of our achievement in establishing the five Ista Hotels since the inception of the brand in 2006. We wanted to tap into the confidence and power of young India, so we listened to what those customers wanted and worked with excellent architects and designers to create Ista. Clearly we got it right, because we won awards from the writers and readers of highly respected publications. The time is now right to step back to our role as owners and hand these Ista hotels to a superb brand in Hyatt, which can take the business to the next level, through its marketing and brand strength. We are delighted with this relationship."
"The association with IHHR comes at a particularly poignant time for us at Hyatt as we will mark 30 years since Hyatt Regency Delhi opened as the first Hyatt hotel in India's capital. Since then, nine more hotels have opened under various Hyatt brands in India; and with the addition of the five Ista hotels, our portfolio stands at 15 business and resort hotels in India. We want to continue building on our brand's long presence and relationships in the country and are fortunate to be a major part of the Indian hospitality industry today. We are grateful to all our developers, owners and guests for their belief and trust in Hyatt," adds Verma.
The re-branding of the five Ista hotels as Hyatt Hotels, will mark the entry of the fourth brand from the company's portfolio into India. Currently, India has five Hyatt Regency hotels in Mumbai, Pune, Delhi, Chennai and Kolkata, two Grand Hyatt hotels in Mumbai and Goa, and three Park Hyatt hotels in Goa, Chennai and Hyderabad. There are currently more than 50 Hyatt-branded hotels under development in India, which are expected to add more than 12,000 rooms. The Hyatt Place brand will be the next to enter India, with Hyatt Place Hampi opening later this year, followed by Hyatt Place Pune, Hinjewadi. The next six months will also mark the opening of three other Hyatt hotels in India - Hyatt Regency Gurgaon, Hyatt Regency Ludhiana and Hyatt Raipur.
About Hyatt
Hyatt hotels are smaller-sized properties conveniently located in proximity to diverse business and leisure areas. With hotels typically ranging from 150 to 350 rooms, Hyatt hotels offer guests the opportunity to experience our hospitality in a vibrant environment. Customers include individual business and leisure travelers, and Hyatt hotels can accommodate smaller scale business meetings and social gatherings.
About IHHR
IHHR Hospitality Private Limited (IHHR) is the company behind the award-winning Ista and Ananda brands. Founded in 1998, IHHR owns and manages destination spas and also leisure and business hotels throughout India. Its mission is to be known as a creative hotel chain offering world-class hospitality with an Indian heart. Its flagship property is Ananda in the Himalayas.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt HouseTM brand names and has locations on six continents. Hyatt House is changing its brand identity from Hyatt Summerfield Suites®. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of June 30, 2012, the Company's worldwide portfolio consisted of 492 properties in 45 countries. For more information, please visit www.hyatt.com .
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about our plans, strategies, occupancy and ADR trends, market share, the number of properties we expect to open in the future, our expected adjusted SG&A expense, capital expenditures, depreciation and amortization expense, interest expense and effective tax rate, estimates, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, general economic uncertainty in key global markets, the rate and pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; our ability to successfully execute and implement our organizational realignment and the costs associated with such organizational realignment; our ability to successfully execute and implement our common stock repurchase program; loss of key personnel, including as a result of our organizational realignment; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; foreign exchange rate fluctuations or currency restructurings; general volatility of the capital markets; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
CONTACT DETAILS
Yasmin D. Poonegar, Hyatt, +971 50 1891262, yasmin.poonegar@hyatt.com
Simran Kodesia, Ipan Hill+Knowlton Strategies India, +91 9920962187, skodesia@ipanhillandknowlton.com
Sophie Goodale, Vice President, Corporate Communications (IHHR Contacts), C&C Alpha Group, +44 20 7630 0808, sophie.goodale@ccalphagroup.co.uk
Pippa Isbell, Chief Executive (IHHR Contacts), PRCo Ltd, + 44 7775 703725, pisbell@prco.com
KEYWORDS
CONSUMER, FOOD, LIFESTYLE, PEOPLE, TOURISM, MARKETING, BUSINESS SERVICES, HOSPITALITY, GROUPS, TRAVEL
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: New TOW Missile Achieves 100th Direct Hit in Latest Testing
Press release from Business Wire India
Source: Raytheon
Tuesday, October 30, 2012 04:48 PM IST (11:18 AM GMT)
Editors: General: People; Business: Business services, Defence & security; Technology
--------------------------------------------------
New TOW Missile Achieves 100th Direct Hit in Latest Testing
Raytheon proves wireless TOW reliability
New Delhi, Delhi, India, Tuesday, October 30, 2012 -- (Business Wire India) -- Raytheon Company (NYSE: RTN) and the U.S. Army achieved excellence in recent flight tests of the tube-launched, optically-tracked, wireless (TOW) missile. In September, the team scored its 100th TOW hit, which marked the successful engagement of 100 out of 100 targets.
During the testing program, which began in 2011, several missiles hit targets beyond 4,000 meters with zero inches of deviation from the aim point in either altitude or azimuth, demonstrating accuracy and reliability.
"TOW continues to build on its legacy as one of the most accurate and effective precision assault weapon systems in militaries around the world," said Scott Speet, Raytheon Missile Systems' TOW program director. "At the same time, it remains the most affordable missile in its category."
The TOW weapon system features a family of multimission missiles fired from a variety of ground and helicopter platforms. Wireless TOW missiles include an RF transmitter added to the missile case and an RF receiver located inside the missile. Since no launcher modifications were required for the transition to wireless, this growth in capability is transparent to TOW customers.
About TOW
The tube-launched, optically-tracked, wireless (TOW) weapon system, with the multimission TOW 2A, TOW 2B, TOW 2B Aero and TOW Bunker Buster missiles, is the premier long-range, precision anti-armor, anti-fortification and anti-amphibious landing weapon system used throughout the world today. TOW is in service in more than 40 international armed forces and integrated on more than 15,000 ground, vehicle and helicopter platforms worldwide. The TOW weapon system is expected to be in service with the U.S. military beyond 2025. December 2012 marks the 50th anniversary of the TOW missile program, with more than 650,000 missiles produced.
About Raytheon
Raytheon Company, with 2011 sales of $25 billion and 71,000 employees worldwide, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 90 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @raytheon.
CONTACT DETAILS
Jaclyn Gutmann, Raytheon, 781.879.2789, rmspr@raytheon.com
Abhishek Puri, IPAN Hill+Knowlton Strategies, +91 9810204659, Abhishek.Puri@hkstrategies.com
KEYWORDS
PEOPLE, BUSINESS SERVICES, DEFENCE, TECHNOLOGY
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Source: Raytheon
Tuesday, October 30, 2012 04:48 PM IST (11:18 AM GMT)
Editors: General: People; Business: Business services, Defence & security; Technology
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New TOW Missile Achieves 100th Direct Hit in Latest Testing
Raytheon proves wireless TOW reliability
New Delhi, Delhi, India, Tuesday, October 30, 2012 -- (Business Wire India) -- Raytheon Company (NYSE: RTN) and the U.S. Army achieved excellence in recent flight tests of the tube-launched, optically-tracked, wireless (TOW) missile. In September, the team scored its 100th TOW hit, which marked the successful engagement of 100 out of 100 targets.
During the testing program, which began in 2011, several missiles hit targets beyond 4,000 meters with zero inches of deviation from the aim point in either altitude or azimuth, demonstrating accuracy and reliability.
"TOW continues to build on its legacy as one of the most accurate and effective precision assault weapon systems in militaries around the world," said Scott Speet, Raytheon Missile Systems' TOW program director. "At the same time, it remains the most affordable missile in its category."
The TOW weapon system features a family of multimission missiles fired from a variety of ground and helicopter platforms. Wireless TOW missiles include an RF transmitter added to the missile case and an RF receiver located inside the missile. Since no launcher modifications were required for the transition to wireless, this growth in capability is transparent to TOW customers.
About TOW
The tube-launched, optically-tracked, wireless (TOW) weapon system, with the multimission TOW 2A, TOW 2B, TOW 2B Aero and TOW Bunker Buster missiles, is the premier long-range, precision anti-armor, anti-fortification and anti-amphibious landing weapon system used throughout the world today. TOW is in service in more than 40 international armed forces and integrated on more than 15,000 ground, vehicle and helicopter platforms worldwide. The TOW weapon system is expected to be in service with the U.S. military beyond 2025. December 2012 marks the 50th anniversary of the TOW missile program, with more than 650,000 missiles produced.
About Raytheon
Raytheon Company, with 2011 sales of $25 billion and 71,000 employees worldwide, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 90 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @raytheon.
CONTACT DETAILS
Jaclyn Gutmann, Raytheon, 781.879.2789, rmspr@raytheon.com
Abhishek Puri, IPAN Hill+Knowlton Strategies, +91 9810204659, Abhishek.Puri@hkstrategies.com
KEYWORDS
PEOPLE, BUSINESS SERVICES, DEFENCE, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
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