Renault Scala Launched
Renault has launched Scala sedan, its 5th model in India, with both petrol and diesel engine options. The base petrol (RxE) is priced at Rs 6.99 lakh, the top-end RxL retails at Rs 7.85 lakh, the diesel RxL costs Rs 8.69 lakh and the RxZ diesel retails at Rs 9.57 lakhs.
The Scala is a badge-engineered Nissan Sunny. Hence it has a 1.5-litre dCi diesel and 1.5-litre XH2 petrol engine from the Sunny. It looks a lot more appealing than the Sunny thanks to the large, aggressive grille, stylish headlights and new alloy wheels. It is packed with technology like outside rear view mirrors (ORVM), 15-inch alloy wheels, dual airbags, ABS with EBD and Brake Assist.
With Scala’s launch, Renault India is now present across segments of the Indian car market with 5 products which also include Koleos and Duster in the SUV segment, the premium sedan Fluence and the small car Pulse
Kraft to Split
Kraft Foods Inc. is set to split into two companies on Oct. 1. It has decided to spin off its global snack business in March. That company, called Mondelez International Inc., will be home to global brands including Oreo, Cadbury and Nabisco and trade under the ticker “MDLZ.”
Its North American grocery business will continue to have the name Kraft and include Velveeta, Miracle Whip and Oscar Mayer. Its ticker will change from “KFT” to “KRFT.” Separately, Kraft’s Mondelez is expected to have a long-term revenue growth of 5% to 7% and earnings growth in the double digits.
New standard packaging norms for FMCG cos
Amid growing cases of unfair trade practices, it would be mandatory for FMCG companies to pack and sell specific products like biscuits and milk powder in standard sizes only, with effect from November 1.
Following complaints regarding unfair reduction in the quantity of packaged products from some consumer organisation, the government has amended the Legal Metrology (Packaged Commodities) Rules 2011.
Other categories like baby food, weaning food, biscuits, bread, butter, coffee, tea, cereals, pulses, milk powder, salt, edible oils, rice and wheat flour, aerated soft drink, drinking water, cement and paints are among products that manufacturers are required to pack and sell in standard sizes
Mercedes to launch all-new B-Class & Sports Tourer to take on rivals
Changing tack after losing traction in the Indian market to its German rivals, Mercedes-BenzIndia is adopting a “step-down” strategy to garner market share. It is preparing to launch an all-new B-Class known as the Sports Tourer in September, to take on BMW and Audi in a segment that is clearly showing signs of a slowdown.
The Sports Tourer would be the most affordable car from the Mercedes stable in the sub- 25 lakh price bracket. The Indian subsidiary of Daimler AG, currently sells its C-Class at 28.56 lakh (ex-showroom Delhi), its cheapest offering in India. For BMW, its lowest priced X1 forms around 30% of its annual sales in 2011 and Audi’s cheapest car in India at 26.5 lakh, the recently-launched Q3 compact SUV lakh, has taken the market by storm.
Nestlé to acquire Pfizer Nutrition to enhance its position in global infant nutrition
In a strategic move to enhance its position in global infant nutrition, Nestlé has agreed to acquire Pfizer Nutrition for USD 11.85 billion. The acquisition, which is subject to regulatory approval, will be accretive to the Nestlé model both for growth and margins as well as the group’s earnings per share in the full first year. Nestlé estimates the acquired business’ 2012 sales at USD 2.4 billion. 85% of Pfizer Nutrition’s sales are in emerging markets, many of them with large, fast-growing populations.
ITC Net Profits up
ITCs Non – Cigarette FMCG segment registered a robust revenue growth of 23% and improved profitability. But its Hotels business continued to be impacted by weak global and domestic economic environment.
Agri-Business profits grew, driven by improved realisations and enriched portfolio and there was robust performance by Paperboards, Paper and Packaging business was driven by product mix enrichment.
ITC was also awarded the prestigious ‘World Business and Development Award 2012’ at the Rio+20 UN summit for its Social and Farm Forestry initiative.