From Agence France-Presse
Valvoline Cummins Ltd, an Indian lubricant and chemical joint venture between two U.S. companies, Valvoline International and Cummins Diesel, said Tuesday it will soon start operations in Britain.
“Within the next quarter we will start joint operations in Britain and are close to finalizing the plans,” Craig Moughler, managing director of Valvoline International Inc, a Fortune 500 firm, told reporters in the southern high-tech city of Bangalore.
Valvoline Cummins and Cummins Diesel formed their 50-50 joint venture in 1998 to make lubricants and chemicals for India’s fast-growing automobile industry.
The Indian firm, which expects revenues to grow 19 percent to 2.5 billion rupees ($54.3 million) in the financial year ending March 2005, did not disclose where it would set up operations in Britain or how many people it planned to employ.
Copyright 2004 Agence France-Presse. All rights reserved.
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