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TE Connectivity Completes Acquisition Of AST

TE Connectivity Ltd. has completed the acquisition of American Sensor Technologies, Inc. (AST), a manufacturer of pressure and position sensing solutions with 2013 revenues of approximately $20 million. The acquisition further expands TE’s growing portfolio of sensors and sensor systems.

 

Siemens Registers An Increase In Profit

For the third quarter of Financial Year 2014 ended June 30, 2014, Siemens Ltd.
registered an increase in Profit after Tax, which rose to Rs. 13 crores compared to a loss of Rs. 49 crores in Q3 2013.

 

 

The company registered new orders of Rs. 2,744 crores compared to Rs. 2,619 crores in the same period last year. Sales stood at Rs. 2,319 crores in Q3 2014, compared to Rs. 2,588 crores in Q3 2013.

 

 

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd., said,
“Overall, the macro-economic situation is still challenging and concrete policy measures will take time to reflect in business.”

 

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GE Energy Financial Services Invests In Atria Power’s Wind Farms In India

GE Energy Financial Services has invested equity in three Atria Power wind projects under construction in India, supporting GE’s commitment to invest USD $1 billion annually in renewable energy projects worldwide. The wind farms will have a combined capacity of 126 megawatts and will support the Indian Ministry of New and Renewable Energy’s program to generate competitively priced grid-interactive wind power through feed-in tariffs. Financial details were not disclosed.

 

 

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GE Energy Financial Services Invests In Atria Power’s Wind Farms In India

GE Energy Financial Services has invested equity in three Atria Power wind projects under construction in India, supporting GE’s commitment to invest USD $1 billion annually in renewable energy projects worldwide. The wind farms will have a combined capacity of 126 megawatts and will support the Indian Ministry of New and Renewable Energy’s program to generate competitively priced grid-interactive wind power through feed-in tariffs. Financial details were not disclosed.

 

 

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GE Antares Finances Hilex Poly To Acquire Duro Bag

GE Antares, a unit of GE Capital, has served as administrative agent on a $555 million senior secured credit facility to support the acquisition of Duro Bag Manufacturing Company by Hilex Poly Company, a portfolio company of Wind Point Partners. GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.

 

Headquartered in Kentucky, Duro Bag is one of the leading providers of innovative point-of-purchase paper bags to key markets throughout the United States – such as food service, specialty retail, grocery and mass merchant. The combined company will provide over 3,000 manufacturing jobs in the U.S., and more than 600 in Canada and Mexico.

IREDA To Receive LoC Worth Euro 100 Million

The Agence Francaise de Developpement (AFD) is extending a Line of Credit (LoC) of Euro 100 million to Indian Renewable Energy Development Agency (IREDA) to be utilised for financing Renewable Energy and Energy Efficiency projects in India. The said Line of Credit is being extended for a tenure of 15 years and without any guarantee from the Government of India.

 

 

Agreement for availing the LoC of Euro 100 million from AFD, was signed by K S Popli, Chairman and Managing Director, IREDA and Aude Flogny – Director of AFD’s Regional Office in New Delhi in the presence of Senior officials of MNRE and IREDA.

 

 

L&T Financial Holdings Desires To Own A Bank

Reserve Bank of India (RBI) Deputy Governor Anand Sinha will address the engineering conglomerate Larsen & Toubro (L&T) on governance issues in banking, cementing the seriousness of the group's desire to own a bank.

 

Sinha will address the executives on "governance in banks and other financial institutions", according to the information posted on RBI's website.

 

The engineering major's unit, L&T Financial Holdings, has expressed its desire to convert itself or own a bank as and when the regulator allows the new ones.

 

MoS Deliberating Upon Improving Investment Climate

With 2 per cent yoy degrowth being registered in volumes to 135 million tonnes, in the period Oct-Sep 2012 (Q3 FY 13), concerns over cargo performance at major ports have been intensified.

 

While on a qoq basis volumes were up by 2 per cent, given that Q3 is generally a period of high cargo activity in the Indian port sector, the growth rate was quite modest. Cumulatively for the period Apr- Dec 2012 (9M FY 13), total cargo at major ports has aggregated 405 million tonnes, 3 per cent lower than the volumes in the same period last fiscal.

 

Atradius Payment Practices Barometer

Businesses in Asia-Pacific have experienced an increase in the value of B2B receivables written off as uncollectable from 3.6 per cent in 2011 to 5.0 per cent in 2012. According to the November edition of the  Atradius Payment Practices Barometer, focusing on Asia-Pacific, over half of the survey respondents anticipate intensifying their efforts to better protect their businesses against deterioration of trade credit risk.

 

Essar Ports Availed Of The Take Out Finance Scheme

Essar Ports has refinanced its debt in a subsidiary Essar Bulk Terminal through take out finance scheme of India Infrastructure Finance Company (IIFCL). Essar Ports has availed the take out finance scheme to reduce its interest rate by over two and half per cent on Rs 405 crore which is part of debt taken for building its 30 million tonne capacity bulk terminal at Hazira in Gujarat.

 

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