|Photo by IANS|
Indian companies have become matured, while tough competition remains within the domestic market of the country, Indian companies are exploring more markets and adding more dimensions of competition. In the last decade we saw growing number of acquisitions by Indian company not only of smaller brands but also of much bigger and prestigious brands. In our previous article we discussed how the former colony India has been acquiring more businesses in the UK and “Indianizing” them, becoming the largest employer in the private sector of the UK. It is observed that Indian companies in a collective manner targeted UK businesses more actively, it could be unintentionally or may be some kind of nationalism. Indian companies are now equally active in the rest of the geography in the race to secure resources and technology.
Year 2003. In the year of 2003, one of the key Korean based commercial vehicle company, Daewoo was acquired by Tata Motors. Daewoo was famous for the cars Cielo and Matiz. After the acquisition Daewoo cars disappeared from Indian markets. Today Tata Daewoo is in the heavy vehicle business with its manufacturing and assembly mainly in Korea, India and Pakistan (Afzal Motors).
Year 2005. The confidence in the management of the Tata boosted so high that one by one it acquired more companies in US, South Africa and East Europe making it world’s second largest branded tea maker. US herbal and green tea brand Good Earth was bought by Tata Global Beverages in 2005.
In another move in the automobile industry Tata Motors bought one of the largest manufacturer of bus and coach cabins in Europe, Hispano Motors Carrocera in 2005. Apart from their main plant in Zaragoza, Hispano also has another facility across the Mediterranean sea in Africa, Casablanca, Morocco. Their combined capacity is to produce nearly 2.000 unites per year. With this acquisition Tata also brought a number of jobs by bringing manufacturing of Hispano bodied buses in India at ACGL plant in Goa. These buses are known as Tata Divo.
|Why doesn’t Tata launch these buses in India? Variant of Tata Hispano Globus can be seen plying on the airports which lack functioning aerodrome facilities. Photo by Motor India|
Later, in the same year Tata made another acquisition in the UK. UK-based Brunner Mond group and US-based General Chemical Industrial Products were back to back bought by Tata Chemicals.
Year 2006. Another US based beverages firm Eight O’ Clock Coffee was bought for US$220 million. Tata also successfully established itself in the tea markets of other small countries like Czech Republic, where it owns JEMČA which is the biggest selling tea brand in the country.
In a move to secure resources around the world, Indian companies are actively spreading their arms. A study by Ernst and Young reports that the Indian companies have advanced in recent years and have invested appreciably in securing mineral resources. For the first time, in the year 2010, India-based companies scored over Chinese counterparts in the acquisition of foreign mineral assets. To support the statement, Indian companies had invested US$4.64 billion in 2010 to acquire businesses outside India, while Chinese overseas investments declined by more than half to US$4.45 billion.
Year 2007. Tata, just after one year of making its dominating presence in the tea markets of US and UK, moved on to the next big thing, Steel! In the year 2007, ambitious Tata Steels bought a company five times bigger than itself for US$12.1 billion. At that time Corus was ranked eighth largest in the world. This pushed Tata Steel from 65th position in the world steel production to a comfortable 5th position. In an another move in the metallurgy industry by another Indian company, Aditya Birla Group acquired Canadian Novelis, an aluminum producing company, for around $6 billion by its flagship company Hindalco Industries. This acquisition has made Hindalco world’s leading aluminium rolled products producer.
Year 2008. India made notable acquisitions in the sector in which it is considered the world leader, IT sector. Indian company HCL acquired UK based enterprise solution provider Axon in mid 2008. Overall Axon group and its subsidiaries has constituted 14% of HCL Tech’s revenue of Rs 16,030 crore and net profit of Rs 1,646.5 crore proving impressively beneficial. HCL, Infosys, and Tata Consultancy Services have till date acquired large number of companies or established their centres around the world and maintain world dominance when it comes to IT.
In the same year, in one of the most surprising deal Tata Motor’s acquired prestigious British Jaguar and Land Rover auto brands. Still very few are aware that Tata Motors owns these super luxurious British automobile brands since 2008. Tata never renamed it as Tata Jaguar. Buying from the cash strapped Ford, Tata has now recorded massive net profit in JLR section.
Year 2009. When most of the Indian private companies were surprising the world with one after the other big acquisitions, state run Oil and Natural Gas Corporation (ONGC) also expanded its arm, and this time again it was UK! In January 2009, ONGC bought U.K. firm Imperial Energy for $2.1 billion. It was one of the biggest foreign acquisitions by ONGC Videsh (OVL), which is the overseas arm of ONGC. OVL successfully holds stakes in various parts of the world, notably the Gulf, Latin american and Siberia.
Year 2010. In mid 2010, In one of the largest coal mines deals by an Indian group, Adani Enterprises, in a cash and royalty deal, acquired the Australian coal assets of Linc Energy for US$2.7 billion.
In the same year, Bharati Airtel, India’s largest telco also became world’s fifth largest telecom company after acquiring African assets of Kuwait’s Mobile Telecommunications Co., Zain. Apart from its massive Indian subscribers, this deal provided Bharati Airtel additional 180 million customers in 18 countries and annual revenue of $12.4 billion
Flowing in the spirit, Sahara India Pariwar in late 2010 controversially bought iconic Grosvenor House hotel in London for 470 million pounds (around Rs 3,250 crore), which gave it a considerable stronghold in the global hospitality business. Sahara India Pariwar had been losing businesses in India, Sahara airways, one of them. Sahara is also known for sponsoring various Indian and Bangladeshi sports team.
Talking about sports, Venky, flagship company of Venkateshwara Hatcheries Group bought Blackburn Rovers, 135-year old English premier division football club which however could not keep club’s fans happy.
Pedro Moreno de los Ríos, partner at Parangon Partners explains “One of the great advantages of Indian executives, compared with their Chinese counterparts, is their knowledge of Anglo-American culture. Another advantage is the greater openness that India has enjoyed when it comes to foreign capital”. He further added, “Indian managers tend to have an international approach, and “India is [even] exporting managers to China.”
Peter Cappelli, George W. Taylor Professor of Management at The Wharton School and Director of Wharton’s Center for Human Resources says, “They [Indian Companies] are aware that there are markets that have not been exploited, and they want to take advantage of them, but not if foreigners get one hundred percent of the profits,” explains Peters. He further adds, “That way, they guarantee that India will not be sold off to foreigners.” He says India and Indian companies are giving more important to their development and are open to foreign companies to gain expertise, technology and funding while maintaining control. “India wants to create its own companies and brands, while China leaves the road wide open to foreign companies,” says Peters.
India, which is third largest economy in terms of GDP (PPP) knows that it needs a stable economy if it is dreaming of becoming a super power in every manner. A strong economy, jobs, education, food security and political stability will help India excel in the path which it has already chosen. A number of foreign acquisitions like these have helped Indian companies gain expertise, technology and management lessons which will help this country shape even more global brands in the future. Companies like Tata, Birla, Reliance and Jaypee are also determined to structure better education in India through their state of the art institutions of technology. Foreign acquisition did bring some jobs to India and more importantly India has secured and has been securing some of the key resources field around the world, that will keep feeding its giant economy in a long run.
Keeping up with house trends
Home is the place where you should feel more comfortable. Thankfully, you can get all the confort without having to sacrifice style. Nowadays it is easy to remodel your house within a budget, making it accessible to any user. If you also keep up with the last trends, your house will surely be in everybody’s mouth.
Updating the living room
The heart of every household is, without any doubt, the living room. It is the place were the family reunites to spend the time together. We generally use the living room on our free time, so it is important to feel as comfortable in it as possible. After all, nobody wants to be in an uncomfortable place when it comes to watch a movie or spend quality time talking with your significant other. Latest trends are aware of this.
One of the most significant changes that have been happening on living rooms over the last years is that regular sofas have become outdated. Their crucial spot in the room has been taken all over by the chaise longues. Chaise longue is a kind of sofa that includes an extra long piece of sofa in one of the sides. Thanks to this additional piece, you can lay down more easily and relax. They are very versatile pieces of furniture and, the best thing about them, is that they come in all designs and patterns, so finding one that matches your style is easy.
Becoming one with your garden
Although most users would prefer spending their spare time in the living room, as the good weather arrives, the garden becomes a strong contender. A beautiful garden is every family dream. Over the last years, nothing has increased the value of properties like a stunning pool in the garden. The pool design therefore is one of the most important aspects of a house.
Choosing the right tiles for your pool can make a dramatic change on the pool appearance and durability. Lately, decorators all around the world have found a new favorite type of tile regarding pool tiles: the glass pool tile.
Glass pool tiles have beaten the traditional porcelain ones used on pools by many aspects. The most important one is that they reflect the light of the sun better, giving the pool a cleaner and brighter look. Glass pool tiles used to be made of materials that could not handle the cold weather well, but thankfully this has changed over the last years. Glass pool tiles are now made of very resistant materials making they appropriate for any kind of weather.
Glass pool tiles are really easy to install and come in all sort of different colours and designs. However, do not let this big variety overwhelm you. A trend in colours seem to be settling in at the moment: turquoise pool tiles. They reflect the sunlight very well while giving your pool a modern feeling. Immersing yourself in a pool with turquoise tiles after a long day at work can give you a relaxing ocean feeling. If you are looking to get yourself some turquoise pool tiles, we recommend you look for respectable sellers like Buy Home Tile, which is an online store famous for providing only quality materials.
Another important thing to take into account regarding your pool is the area around it. Experts like Buy Home Tile recommend you use river rock mosaic tile. This kind of tile gives a rustic but elegant feeling to your outdoors areas. Since it is made of river rocks, they are very resistant and can last you a lifetime. Their top quality durability make it a wise decision, not only for pools and garden areas, but also for your bathroom or shower floors. People around the world are choosing river rock mosaic tiles for multiple elements in their homes, so do not miss the chance of joining those who make wise decorative decisions.
SkyBridge Receives “Exporter of the Year” award from Global Chamber Phoenix
The SkyBridge air logistics project received the “Exporter of the Year, Services” award, granted by the Phoenix Global Chamber within its annual Grow Globally Fair, which brings exporters and importers together, along with international investors.
The award was presented to SkyBridge, a company chaired by Ariel Picker and directed by Felipe Monroy. The effort to position www.skybridgeaz.com as one of the leaders in the international logistics sector within the business community in Arizona has been coordinated by Marco Lopez, president of Intermestic Partners.
SkyBridge is planned to become the first international air cargo hub to house Mexican and US Customs in the United States.
Its operations are based at the Phoenix-Mesa Gateway Airport and will allow e-commerce companies and manufacturers, among others, to do business in Mexico and throughout Latin America, with a more efficient and profitable transport of goods between countries, thorough inspections and adequate security controls.
The development of this project will create 17,000 new direct and indirect jobs, as well as more than 3.5 million SF of development which will include industrial, aeronautical, office and commercial real estate.
The construction plan will detonate other benefits in the border region. Arizona’s proximity to Mexico and its surroundings are highly favorable for business, and they make the state a natural center for air cargo companies, large and small, eager to see their businesses grow on both sides of the border.
In this sense, Grow Globally Fair gives global business leaders the opportunity to see what’s new, who is new and how they can grow better.
With that purpose, the Phoenix Global Chamber awards prizes in honor of the success achieved in international markets and in the United States, whose categories are: Exporter of the year, product; Exporter of the year, services; Importer of the year; Landed Company to see; Cross-border consulting; Transcendent leader of the community; International banking; International commercial law; Immigration lawyer; Diplomat of the year; Translation and localization; International logistics; International accounting and taxes; International finance and insurance; International Emerging Risk; International Talent and Payroll: International Real Estate Leader; International wealth management; International business training and discourse; International IT services; International market; International education; Collaborating Organization; International nonprofit; International business city; an Elected leader with global mentality; Young Global Leader, and Global Leaders of the tribe of the year.
Axel Andorff and Carsten Isensee, new SEAT Vice presidents for R&D and Finance
The Spanish car company, SEAT is betting on the future by hiring two prestigious new executive vice presidents. The company hired Axel Andorff as the new executive vice president of R&D (research and development), and Carsten Isensee has been appointed as the new executive vice president for finance. With both appointments, SEAT is focusing on Innovation and securing the company’s record profit and investment figures.
Who are Axel Andorff and Carsten Isensee
Research & Development and Finance are two of the most important areas on a car company. The new vice presidents of these areas, are both executives with international experience and extensive knowledge on the car market. Axel Andorff will be replacing Dr. Matthias Rabe (who will run the technical development operations area at Volkswagen), and Carsten Isensee, who is taking over for Holger Kintscher (who will be working as head of IT and finance at Volkswagen).
Let’s see who are these two new incorporations to the SEAT executive staff.
Axel Andorff (R&D Vice president)
Axel Andorff is a German economic and mechanical engineer (from the German University of Kaiserslautern), with 20 years of experience at the car market, where he worked for Mercedes and held various positions in the research & development area of that company.
New responsibilities at SEAT
The new R&D vice president will be in charge of the company’s innovation projects, especially those involving connectivity and car electrification, developing technologies and new forms of mobility. He is in charge of the SEAT Technical Centre, who is focused on R&D. It has an area of 43,000 square meters, prepared and equipped (of a total area that covers a surface of 200,000 square meters). More than 1000 qualified engineers work on this center, using advanced technology (simulations, virtual reality…) to create modern and reliable cars, and developing new car technology.
In 2018 SEAT allocates 862 million euros on total investments and R&D expenses, 47% more than in 2017.
Carsten Isensee (Executive Vice-President for Finance)
Carsten Isensee has a degree in business management from the German University of Wilhelmshaven, and he has made his entire career in the Volkswagen company. His last charge was in China as an executive vice president for finance.
2018 was a historic year for SEAT. Sales have grown by over 10%, increasing from 468,400 sold vehicles in 2017 to 517.600 in 2018. With the incorporation of Carsten Isensee to the company, they expect to continue increasing their sales along 2019 and the next years.
New responsibilities at SEAT
The Finance vice president joins the Spanish car company with the objective of reinforcing the company’s profit record and investment figures, and to strengthen its financial basis for future Automotive (LINK NOFOLLOW) projects.
The car market is a very competitive sector. Last years SEAT increased its figures on sales, profits and investments. With the new vice presidents incorporations, the company is focusing on increasing these figures and securing its position on the market.
As SEAT president Luca de Meo said: “It’s time to look to the future with the ambition to grow”.
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