Rheinmetall joint venture secures euro3.1B order to build 405 armored vehicles for German army

August 3rd, 2009 Enel and EdF in nuclear venture in ItalyMILAN — The Italian energy company Enel has formed a joint venture with France's EdF to develop nuclear energy in Italy, the companies said in a joint statement Monday. The companies billed the move "as the first substantial step" toward establishing nuclear plants in Italy following the approval of an Italian law last month allowing a return to nuclear energy more than two decades after voters shut down the country's reactors.

July 30th, 2009 Sanofi-Aventis pays Merck $4B for share in MerialPARIS — Pharmaceuticals company Sanofi-Aventis SA said Thursday it has agreed to pay $4 billion in cash to U.S. drugmaker Merck & Co.

July 6th, 2009 Rheinmetall JV lands €3.1B order for German APCsFRANKFURT — The German government has contracted PSM GmbH to build 405 new Puma armored fighting vehicles for the army. The Federal Agency for Defence Technology and Procurement approved the €3.1 billion ($4.3 billion) deal with PSM, a joint venture owned by Rheinmetall AG and Krauss-Maffei Wegmann GmbH & Co.

June 5th, 2009 EU approves loans to VolvoBRUSSELS — The European Union has approved loan guarantees to Ford Motor Co.'s Volvo unit to help it build cleaner cars. The European Commission says Volvo is planning to use euro500 million ($708 million) from the European Investment Bank for its euro1.9 billion ($2.7 billion) project to develop more fuel-efficient low-emissions vehicles.

June 1st, 2009 Germany: 3 US soldiers die in highway crashBERLIN — The U.S. Army says three soldiers have died and two were injured in an accident on a German autobahn.

May 15th, 2009 CHENNAI - Ashok Leyland Nissan Vehicles, whose proposed plant here to make commercial vehicles has been delayed due to land acquisition problems, may use the car manufacturing facility of Nissan-Renault, being set up near here, to roll out trucks, a top official said. Ashok Leyland Nissan is joint venture between India's Ashok Leyland and Japan's Nissan Motor for light commercial vehicles (LCV).

May 11th, 2009 KATHMANDU - Despite growing labour trouble, tobacco giant ITC's joint venture in Nepal remains one of the top tax payers in the Himalayan republic, coming second after the state-run Nepal Telecom. Surya Nepal, ITC's joint venture with British American Tobacco and private Nepali shareholders including members of Nepal's former royal family, was the second-highest tax payer in 2007-08, according to Nepal's apex bank Nepal Rastra Bank (NRB).

March 21st, 2009 CHENNAI - Bangalore-based biotech company Avesthagen Ltd has signed a joint venture agreement with Uxmal SA of Chile to promote research and development (R&D) of bioactives, a top official said here Friday. The joint venture, Avesthagen Latam, will be funded through a mix of equity and a Chilean government grant, Avesthagen chairperson and managing director Villoo Morawala Patel said.

March 3rd, 2009 NEW DELHI - Indian auto major Mahindra and Mahindra, part of the $6.7-billion Mahindra group, reported a 21.6 percent year-on-year increase in its three-wheeler and utility vehicle sales, selling 18,135 units last month as against 14,909 units during February 2008. The utility vehicle segment comprising the company's Bolero, Scorpio and Xylo range of vehicles recorded sales of 14,720 units, as compared to 12,562 last February - a growth of 17 percent.

February 28th, 2009 CHENNAI - External Affairs Minister Pranab Mukherjee will Saturday lay the foundation stone for Neyveli Lignite Corp's (NLC) 1,000-MW thermal power plant in Tuticorin. 'The Rs.59-billion (Rs.5,900 crore) project has a couple of special features like the reverse osmosis desalination plant, gas insulation switchyard and pile foundation apart from NLC's first venture into power generation with coal,' NLC chairman and managing director A.R.

February 25th, 2009 SHANGHAI - China's Changan Auto will set up a factory in Mexico to produce 50,000 vehicles annually in partnership with Mexican firm Autopark, EFE reported. A framework agreement has been signed in this regard and both firms are negotiating the details of the creation of a joint company, Zhong Ling, head of the Chinese firm's public relations department, said.

February 10th, 2009 NEW DELHI - The government Wednesday approved a joint venture between the Airports Authority of India (AAI) and Maharashtra Airport Development Co (MADC) - promoted by the Maharashtra government - for developing the Nagpur airport as a multi-modal international passenger and cargo hub. The government in a statement said AAI, India's airports operator, would hold 49 percent while MADC will have a 51 percent equity in the joint venture.

February 4th, 2009 NEW DELHI - The government Thursday approved a proposal to set up two greenfield electric and diesel locomotive factories in Bihar at an estimated investment of Rs.20 billion (Rs.2,000 crore). The factories will be set up in Madhepura and Saran districts as a joint venture between Indian Railways and an international manufacturer.

January 22nd, 2009 NEW DELHI - Engineering and construction major Larsen and Toubro (L&T) Friday said its joint venture in Oman has bagged orders worth $245 million (Rs.11.98 billion). The orders cover construction of a hotel and apartments for the second Asian Beach Games and a mosque and underground cabling in Oman, a statement by L&T (Oman) LLC said.

January 11th, 2009 CHENNAI - Though its domestic sales have witnessed a steep fall, there is good news for India's second largest commercial vehicle manufacturer Ashok Leyland Limited, as it has bagged a export order from Honduras and Thailand, a senior official of the company said Monday. The company has bagged a $10.5 million order to supply 139 vehicles to Honduras Armed Forces (HAF) and the Royal Thai Army has approved purchase of 10 vehicles, the value of which is not known.