Year: 2007

KLG Systel has been awarded orders worth over Rs 67 crore from Governments of Rajasthan and Haryana. The projects covered in this order include that of revenue management for power utilities and boosting the power infrastructure in the states of Haryana and Rajasthan. The company shall, in the course of these project deployments, use its innovative SG61 technology to reconcile and manage the power distribution in utilities. The company has extensive experience and expertise in the Utilities business and will use state of art project management tools for timely execution of these projects. These projects are expected to be completed by March 2008.

The company is an IBM premiere ISV in India and is also now certified by IBM for SOA. SOA enables organization to build a scalable architecture capable of talking to legacy systems. The company has been recently announced as an independent software vendor by SAP and KLG’ S Vidushi has obtained net weaver certification from SAP. The company was also very recently awarded a SAP-IS utilities order from Jamshedpur utilities.

Abbott India announced that a meeting of the board of directors of the company will be held on 5 September 2007, to consider a proposal for buyback of a portion of fully paid equity shares of the company. The buyback price to be determined by the board will not exceed Rs 650 per equity share, it said.

Net profit of Abbott India rose 34.66% to Rs 18.30 crore on 18.80% rise in sales to Rs 154.04 crore in Q2 May 2007 over Q2 May 2006.

Infotech Enterprises has announced that Infotech Enterprises America, (Infotech), a global geospatial and engineering consulting and professional services firm has formed a strategic alliance partnership with Continental DataGraphics (CDG), a subsidiary of the boeing company.

The alliance with Infotech will also enable CDG to be more responsive to growing demands from its customers to develop and deliver new solution offerings in an accelerated timeframe. CDG is proactively developing new strategic partnerships with companies such as Infotech to further globalize its business and to actively seek out opportunities for growth in a broader marketplace.

CDG specializes in the creation, production, and distribution of complex engineering publications. Its comprehensive services include technical authoring and illustration services, digital imaging, and hosted portal services supporting multiple market segments in the United States and Europe, including aviation, aerospace and defense, manufacturing, energy and government. CDG has developed complex technical and engineering publications for Boeing aircraft and other heavy equipment manufacturers for many decades.

Elder Pharmaceuticals has reportedly acquired 51% stake in Biomeda Group in Bulgaria for euro 5 million (around Rs 28 crore) in an all-cash deal. Biomeda Group is a leading pharma group in Bulgaria with a turnover of about 10-12 million euros. With the acquisition, Elder will see the launch of many more products in Europe. Biomeda is Elder’s second acquisition in less than 45 days.

On 26 July 2007 it had acquired a 20% stake in UK’s NeutraHealth Plc for 5.63 million pounds sterling (Rs 47crore). Neutra Health has three subsidiaries selling neutraceutical products such as vitamins, health supplements and over-the-counter medicine. Neutra Health has a turnover of 23 million sterling pounds and a market capitalisation of close to 16.8 million sterling pounds.

Elder’s net profit rose 15% to Rs 15.08 crore in Q1 June 2007 over Q1 June 2006. Sales moved up 15.6% to Rs 120.69 crore.