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Panel to examine 42 mines in Goa
Speaking in the state legislative assembly, Goa Chief Minister Manohar Parrikar informed that the Justice RMS Khandeparkar committee would investigate illegal revival of 42 mines 17 years ago. Last year, Goa government appointed the committee to investigate and examine the findings of the Shah Commission report on illegal mining which exposed a Rs 35,000 crore scam in the sector
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Power equipment industry shrinks 10.5% in 3rd quarter
In the third quarter of 2012-13, the power sector has deepened into gloom further as electrical equipment industry shrank 10.5 per cent. Turnover contracted 10 per cent, declining for the third consecutive quarter, and falling in double digits for the first time. The Indian Electrical and Electronics Manufacturers' Association (IEEMA) said almost all sectors declined, particularly power cables and energy meters business.
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Volume of mining and construction equipment sector may fall
Ratings agency ICRA expects subdued near term outlook for the mining and construction equipment industry with demand for equipment expected to remain sluggish. The agency expects sluggish demand for equipment because of the slow pace of infrastructural investments, weak business confidence and continued regulatory issues surrounding mining
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Equipment makers see early revival of infra sector
As the Union government has recently taken policy initiative and the Reserve Bank of India (RBI) reduced interest rate, there are early signs of revival in the infrastructure sector, says the Indian Construction Equipment Manufacturers' Association.
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The Game Changer
Volvo Trucks introduces the first FM 480 10x4 dump truck with 43 (US) Tonne capacity for mining applications in India.
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Caterpillar expands India presence with new manufacturing plant for Backhoe loaders
Caterpillar India launched the company?s new backhoe loader manufacturing facility in Thiruvallur near Chennai. The new facility not only strengthens the company?s growing presence in India but also augments the distribution channel
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Largest concrete takeover
The construction equipment industry, dominated by the US, has a new challenger from the Chinese markets in the form of Sany. Sany Heavy Industry Co., the construction-equipment maker run by China's richest man, employing 70,000 people worldwide with operations in 150 countries and a three quarter turnover of $1.7 billion,
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Sany clinches largest German deal with Putzmeister
German concrete pump maker Putzmeister Holding will go into the hands of Chinese firm Sany Heavy Industry as the latter will buy 100 percent stake in the former in partnership with the fellow national private equity company CITIC PE Advisors.
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Volvo CE wins Cannes Film Award
Volvo Construction Equipment's new history film has been awarded a ?Dolphin' trophy in the 2011 Cannes Corporate Media & TV Awards ? an international festival exclusively for corporate films and TV documentaries, based in the historic film city of Cannes, France.
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Mann+Hummel registers double-digit growth
In the first six months of 2011 Mann+Hummel benefited from a healthy world economy and compared to the previous year increased the company group turnover by approximately 20 per cent to 1.2 billion euros.
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