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TWL BAGS ORDER FROM ITALIAN FIRM

JAN 2016- Titagarh Wagons (TWL) has secured an overseas order worth 65 million euros to manufacture double-decker trains for Italian public transport company Ferrovie Nord Milano. With this order, the Calcutta-based company's order book touched Rs 2,800 crore. TWL has acquired the business of Italy's Firema Trasporti and formed a subsidiary company Titagarh Firema Adler with the former holding a 90 per cent stake.



MAHINDRAS BUY ITALIAN AUTO DESIGN FIRM PININFARINA

DEC 2015- Tech Mahindra and Mahindra & Mahindra (M&M) have jointly acquired controlling stake in Italian automobile design house Pininfarina, wrapping up nearly eight months of talks that focused on valuation. The Mahindra Group companies announced that the deal was done through a special purpose vehicle (SPV), held 60% by Tech Mahindra and 40% by M&M. Pininfarina will continue to remain an independent company, listed on the Milan Stock Exchange, with Paolo Pininfarina as chairman of its board.



IMA DAIRY & FOOD ACQUIRES PUNE BASED HASSIA PACKAGING

AUG 2015- Italian company Industria Macchine Automatiche SPA (IMA), which provides packaging machinery, technology and services, has acquired Hassia Packaging India, a Pune-based company as part of its global acquisition of Hassia's parent OYSTAR Group. Post acquisition, Hassia Packaging will be known as IMA Dairy & Food Holding Hassia India and the deal will help both the companies to strengthen its footprint in the global packaging industry in geographies like South Asia, Southeast Asia, Middle East, Africa, Eastern Europe, West Asia.



THERMAX ACQUIRES 33% STAKE IN FIRST ENERGY

JULY 2015- Thermax Ltd has bought a 33% stake in First Energy Pvt. Ltd, an alternative energy solutions company, for some Rs.20 crore. Thermax will acquire the rest of First Energy in a phased manner over the next four to six years. Thermax will pay about Rs.20 crore for the 33% stake, a person familiar with the transaction said, requesting anonymity. The company did not disclose the value of the deal. Pune-based First Energy, which focuses on consumers in commercial and home cooking market, had revenue of Rs.42 crore in 2014-15, the filing said. Its Oorja branded product uses a combination of a stove and biomass-based fuel available in pellets.



TITAGARH WAGONS BUYS FIREMA TRASPORTI

JULY 2015- Titagarh Wagons Ltd has acquired Firema Transporti, a troubled Italian rail design and manufacturing firm on the verge of bankruptcy, a move which would help the Indian wagon maker further bring down dependence on Indian Railways for survival and strengthen its presence in Europe. Firema, which designs and sells metro coaches and high speed trains, had been suffering due to the global economic slowdown and was put under "extraordinary administrator" in 2010, following which several aborted efforts by the administrator since 2011 to dispose off the company and its assets were undertaken.



INDIA SIGNS LEGAL AGREEMENT WITH THE WORLD BANK FOR IBRD LOAN OF $400 MILLION

JUNE 2015- The Loan and Project Agreements for World Bank (IBRD) assistance of US$ 400 million for Tamil Nadu Sustainable Urban Development Project were signed between the Government of India/ Government of Tamil Nadu and World Bank here on the 3rd of June 2015 in New Delhi. The objective of the project is to improve urban services in participating Urban Local Bodies (ULBs) in a financially sustainable manner and to pilot improved urban management practices in selected cities. The total project size is US$ 600 million, out of which World Bank support is US$ 400 million.



AN ITALIAN CO. SIGNS MoU FOR 100 BIOMASS POWER PLANT IN INDIA

APRIL 2014- Made in Italy marks another milestone in the field of innovative technologies in Biomass and confirms its success in India. An Italian delegation , consisting of two engineering companies in the renewable energy from Milan, TDM Group Engineering company and MGM engineering and Contracting, participated in the conference " CONVERGENT MINDS " organized by the Indian newspaper " TIMES OF INDIA " on Feb 28, 2014 in Lucknow , the state capital of Uttar Pradesh in India. After this conference , The Italian company , TDM Group Engineering with its joint venture partner AVK Consultants India Pvt Ltd., signed a MoU for the construction of 100 biomass power plants in the State of Uttar Pradesh with SPIL.