Belgium’s Alfacam secures lifeline from Hinduja
Belgium-based television services company Alfacam said on Tuesday it had secured a financial lifeline from Hinduja Group in an initial deal that could also strengthen its position in Asian markets. Alfacam, to which a court granted creditor protection in October, said it had a preliminary deal for a 24 million euro ($31 million) credit facility and 6 million euro equity injection from Hinduja. Alfacam, with broadcast services, TV studios and the Europe’s largest fleet of outside broadcast vans, said its memorandum of understanding was valid until the end of January 2013. Banks had agreed to suspend repayments until then.
Mercedes-Benz signals price hike from January
Mercedes-Benz India indicated on Tuesday that prices of all its models will be revised upwards from January. A constant increase in input costs and unfavourable exchange rates coupled with inflation has posed severe strain on margins. Eberhard Kern, managing director & CEO, Mercedes-Benz India, said, “Significant level of cost escalations have been absorbed by us until now, but beyond a point we cannot continue to sustain such levels. We aim for a sustainable profitable growth maintaining our premium appeal and, hence, we are going to substantially increase the prices of all Mercedes-Benz cars from January 2013.”
L&T inks deal with Thales for Hyderabad metro project
Larsen & Toubro has signed an agreement with Thales, India, for providing communications-based train control and integrated communications and supervision systems for Hyderabad metro rail project, said a company statement. The CBTC advanced signalling and ICS systems will be implemented covering 72 kms of rail and comprising 66 stations. The Hyderabad Metro Rail Project is a public-private partnership (PPP) project awarded to L&T by government of Andhra Pradesh. L&T has incorporated a special purpose vehicle called L&T Metro Rail (Hyderabad) to implement the project on a design, built, finance, operate and transfer basis. It is a subsidiary of L&T Infrastructure Development Projects Limited, promoted by L&T.
Mahindra to hike vehicle prices in Jan by over 1%
Mahindra & Mahindra on Tuesday said it will increase prices of its vehicles by over 1% across various models in January to offset rising input costs. “We are also contemplating a price hike across various models. The quantum is yet to be decided but it will be 1% and above. This will take place in the first half of January,” Mahindra & Mahindra chief executive (automotive division) Pravin Shah said. He said the price hike