Texmaco, United Group tie up to make hi-tech wagons

September 16th, 2009 Tetra Tech gets Army Corps of Engineers contractPASEDENA, Calif. — The Army Corps of Engineers awarded a contract, with a top value of $38 million, for civil projects and military planning in various Western states to three companies, Tetra Tech Inc.

August 5th, 2009 ISLAMABAD - A freight train link between Islamabad and Istanbul via Tehran is to be launched Aug 14, Pakistan's independence day. The train will run from Islamabad's Margala Station to Istanbul's Haydarpasa Station via Tehran Station, APP news agency reported, quoting railway officials here.

August 3rd, 2009 Correction: Texas Tech-GonzalesLUBBOCK, Texas — In a July 30 story about a Texas Tech faculty petition opposing the hiring of former U.S. Attorney General Alberto Gonzales, The Associated Press reported erroneously that university Chancellor Kent Hance was a Republican former congressman.

July 23rd, 2009 KOLKATA - KK Birla group company Texmaco Ltd is in the last leg of finalising a joint venture with three Japanese companies led by Kawasaki to make Metro rail coaches, a top official said here Thursday. Texmaco will be part of the alliance through its newly formed 50:50 joint venture with the United Group of Australia.

July 10th, 2009 MUMBAI - Mahindra Satyam, formerly Satyam Computer Services, Friday said it has allotted 198.6 million shares to Venturebay Consultants, a Tech Mahindra arm. After this allotment, Tech Mahindra will hold about 43 percent in the company.

July 7th, 2009 Former AG Gonzales to teach at Texas TechLUBBOCK, Texas — Alberto Gonzales, who resigned as U.S. attorney general two years ago, is coming to Texas Tech this fall to teach political science.

July 3rd, 2009 KOLKATA - Railway Minister Mamata Banerjee's pledge that her ministry will buy 18,000 wagons in 2009-10 has excited West Bengal's wagon makers Friday. "It's good news for us.

June 23rd, 2009 HYDERABAD - Two days after Satyam Computer Services was re-branded as Mahindra Satyam, the company Tuesday announced changes in its leadership with Tech Mahindra's head of international operations C.P. Gurnani being named the outsourcer's new chief executive.

June 21st, 2009 HYDERABAD - Satyam Computer Services has been renamed as Mahindra Satyam, while the logo will be adopted from the Mahindra Group. Tech Mahindra had bought it in April, The decision was taken at a closed-door meeting attended by top executives of Tech Mahindra in Hyderabad.

June 11th, 2009 NEW DELHI - The surge in the Satyam Computer Services scrip might prompt the scam-tainted IT major to issue fresh shares to its new owner Tech Mahindra, analysts say. Tech Mahindra, which acquired 31 percent stake in Satyam in a global auction, is required under the bidding process stipulations to make an open offer for another 20 percent.

April 22nd, 2009 MUMBAI - After buying 31 percent of scam-tainted Satyam Computer Services, Tech Mahindra Wednesday announced an 'open offer' to acquire a further 20 percent stake so that it can get a controlling stake. As per the next steps laid out by the Satyam board, Tech Mahindra announced the 'open offer' to obtain 20 percent at Rs.58 per share for 199,079,413 shares of Satyam, the company said in a regulatory filing.

April 20th, 2009 HYDERABAD - Tech Mahindra, the new owner of Satyam Computer Services, Monday said it was excited about the prospects of the fraud-hit IT major and that restoring financial health was the priority. After the first meeting with the government-appointed board, Anand Mahindra, chief of Mahindra Group, said Satyam would remain a stand-alone unit in foreseeable future and its leadership would continue with marginal changes.

April 20th, 2009 HYDERABAD - Tech Mahindra, the IT arm of auto major Mahindra and Mahindra, Monday said it has deposited the amount needed for acquiring a majority stake in the fraud-hit Satyam Computer Services. Venturbay Consultants, a subsidiary of Tech Mahindra, was to pay $351 million for a 31 percent preferential allotment of new shares and would then make an open offer for a further 20 percent of the company at a cost of about $231 million, a company statement said.

April 13th, 2009 MUMBAI - Following are the highlights of Tech Mahindra's winning bid for a controlling stake the scam-hit Satyam Computer Services, which was approved by its board here Monday and notified to stock exchanges: - Acquiring company: Venturbay Consultants Pvt Ltd, a Tech Mahindra subsidiary - Price at which acquisition of 31-percent stake approved: Rs.58 per share - Number of shares constituting 31 percent: 302,764,327 - Amount raised by way of 31-percent stake: Rs.1,756 crore ($351 million) - Money to be deposited in an escrow account by April 21 - If not, next highest bidder will be considered - Larsen and Toubro and consortium of Wilbur Ross-Cognizant were also in fray - Tech Mahindra to make open offer of 20 percent at Rs.58 per share - After open offer, total stake held cannot be more than 51 percent - Subscribers of American depository shares also eligible for open offer - Open offer to be made within 55 days - Company Law Board exemption for shareholder approval on preferential offer - Financial advisers: Goldman Sachs and Avendus Capital - Satyam board says no other bidder within 90 percent of Tech Mahindra's offer - Satyam board and Tech Mahindra execute share subscription pact - Two directors - Deepak Parikh and S.B. Mainak - abstained from decision

January 17th, 2009 PALAKKAD - Kerala Sunday got its fourth public sector unit (PSU) under the defence ministry for manufacturing military wagons and other items for the forces and railways. Chief Minister V.S.