Greenlam Industries Incorporates New Subsidiary in Bangladesh

Key Takeaways from the Announcement

• Greenlam Industries has established a new subsidiary in Bangladesh, Greenlam Overseas Bengal Limited.
• The subsidiary will operate in the distribution and wholesale of high-pressure laminates and wood-based products.
• Greenlam Industries holds a 99.9% stake, having invested BDT 4,99,800 in 4,998 ordinary shares.
• The incorporation of this subsidiary strengthens Greenlam’s regional presence in Bangladesh.

As per a stock exchange filing, Greenlam Industries holds a 99.9% share in the new subsidiary, which was incorporated with an authorised share capital of BDT 2 crore and an initial subscribed capital of BDT 5 lakh. The subsidiary will act as a distributor and wholesaler of high-pressure laminates and other related products, further expanding Greenlam's presence in the South Asian market.

This move aligns with Greenlam's core business strategy and will help enhance its distribution network for wood-based products in Bangladesh.

About Greenlam Industries

Greenlam Industries is a leading manufacturer of laminates, decorative veneers, and allied products. With two manufacturing facilities in Behror (Rajasthan) and Nalagarh (Himachal Pradesh), the company operates through a vast distribution network comprising nine regional distribution centres, 21 branch offices, and five warehouses. Greenlam's products are available in over 100 countries, supported by three international distribution centres, 14 overseas offices, and five operational subsidiaries. Its wide-reaching network includes over 14,000 distributors, dealers, and retailers, with a diverse team of 100+ multicultural employees.

Key Takeaways from Infosys Collaboration with Polestar:

• Infosys partnered with Polestar to open a new technology hub in Bengaluru, India.
• The partnership will upgrade infotainment for automobiles, software and electrical engineering, user experience, as well as cloud services.
• The hub will focus on developing and validating software for EVs, infotainment, and ADAS.
• This would allow Polestar to strengthen its product management as well as customer engagement by utilising the best possible digital solutions.

The global tech hub would be functioning on the development of electric vehicle (EV) software on validation in areas such as infotainment, Advanced Driver Assistance Systems (ADAS), and telematics. 

The partnership would also strengthen Polestar's product management and customer engagement through advanced digital services.

Jasmeet Singh, Executive Vice President and Global Head of Manufacturing, at Infosys, said, “Building on Infosys' extensive experience in automotive engineering, digital transformation, and global delivery leadership, we aim to bring the infrastructure and innovation to co-create next-generation EV capabilities.”

About Infosys Limited

Infosys is a leader in next-generation digital services and consulting, with more than 300,000 professionals working across over 56 countries. Infosys offers support to clients on their journey of digital transformation. For more than 40 years, Infosys has focused on managing the enterprise systems of its clients through changes in digital-navigating it with the power of cloud and artificial intelligence technologies. This company is dedicated towards constantly driving improvement and innovation, while, at the same time, fostering an inclusive workplace and promoting sustainability.

About Polestar:

Polestar is a Swedish electric performance car brand. It is based in Gothenburg, Sweden and its company believes in design and technology to change the future of mobility, accelerating progress toward a climate-neutral society. The company sells its cars directly on the Internet in 27 markets across North America, Europe, and Asia Pacific. The five performance electric vehicles are planned for 2026, including the Polestar 2 and Polestar 3, with further models such as Polestar 5 and Polestar 6. Polestar is also working on the next target of a climate-neutral production car by 2030 under its project Polestar 0.

Key Takeaways from the Acquisition

• Cipla will acquire 6.9124% of Cipla Jiangsu, making it a wholly-owned subsidiary.
• The deal is valued at RMB 35,849,118.
• The acquisition is expected to be completed by November 15, 2024.

Cipla (Jiangsu) Pharmaceuticals Co., Ltd., established in 2019 as a joint venture, specializes in manufacturing and distributing pharmaceutical products, with a focus on inhalation results. Before the acquisition, Cipla (EU) Limited held 93.0876% equity in Cipla Jiangsu, while Jiangsu Xidi Pharmaceuticals owned 6.9124%. Cipla has now agreed to purchase the remaining shares for RMB 35,849,118 in cash, making Cipla Jiangsu a fully owned subsidiary of Cipla (EU) Limited.

The acquisition is classified as a related party transaction, carried out following the existing joint venture agreement between Cipla and Jiangsu Xidi. It will be conducted on an arm’s length basis, with no additional involvement from Cipla’s promoter group.

The transaction is subject to regulatory approvals from Chinese authorities as well as compliance with all applicable laws. The process is expected to conclude by November 15, 2024.

The acquisition is expected to provide Cipla with full control over Cipla Jiangsu’s operations, strengthening its footprint in the Chinese pharmaceutical market.

About Cipla Limited

Cipla is a leading pharmaceutical company, ranked as the 3rd largest in India’s domestic prescription (Rx) market. It holds leadership positions in generics (Gx) and respiratory therapies and ranks among the top five in urology and anti-infectives. The company also has a strong digital presence with over 500,000 downloads for its "Breathe Free" app and a field force of over 7,500 representatives, 85% of whom regularly prescribe Cipla products. Cipla is the 3rd largest player in the private Rx market in SAGA (South Africa, Sub-Saharan Africa, and Global Access) and is the fastest-growing generic player in North America.

Cipla boasts a diversified portfolio with over 1,500 products in more than 50 dosage forms, covering 65 therapeutic categories. In FY22 alone, the company launched 93 products globally.

Key Takeaways from Birlasoft’s Achievement:

• IT consulting and services organisation Birlasoft on 25 September announced that it has achieved the AWS Manufacturing and Industrial Consulting Competency status.
• It emphasises the capability of Birlasoft to deliver transformational digital solutions for manufacturing and industrial industries.
• Being an Advanced Tier Services Partner for AWS places a specific focus on the technical aspect and excellence in cloud-based solutions.
• The program aids in identifying partners whose industry expertise is scalable, flexible, and cost-effective for customers.
• In Birlasoft solutions, engineering and design, smart manufacturing, supply chain management, and sustainability are included.

As an AWS Advanced Tier Services Partner, Birlasoft commits to a high level of technical expertise combined with professional service excellence in cloud-based solutions. 

Chief Operating Officer at Birlasoft, Selvakumaran Mannappan, said on the development, "We are pleased to have achieved the AWS Competency in Manufacturing and Industrial Consulting, our second Competency from AWS.”

“Our cloud-based platforms and microservices-enabled architecture, supported by over 4,000 AWS proficient consultants and 30+ proprietary assets, are enabling our customers to achieve substantial improvements in performance, cost efficiency, and operational excellence,” added Mannappan.

The AWS Competency Program serves to help customers identify partners with deep industry expertise so that scalable, flexible, and cost-effective solutions can be delivered to organisations of all sizes. 

Birlasoft is also an AWS Manufacturing and Industrial Competency Partner offering solutions in the breadth of Engineering and Design, Smart Manufacturing, Supply Chain Management, Sustainability, and beyond.

About Birlasoft Limited:

Birlasoft Limited is a global leader in Cloud, AI, and Digital technologies. Coupled with industry knowledge and enterprise solutions, the company works on a consultative and design-focused approach to helping businesses improve efficiency and productivity around the world. Birlasoft, led by Chairman Mrs. Amita Birla, has over 12,000 professionals dedicated to driving digital transformation. Being richly experienced in specific industries, the company delivers advanced technology solutions that add towards building sustainable communities.

About CK Birla Group:

CK Birla Group is an Indian multinational company, and it posted revenues of around $3 billion with over 35,000 employees. It has 52 manufacturing units spread across India and other countries and is present in diverse business streams, such as technology, automotive, home and building, and healthcare. The firm looks to create long-term value through trust-based relationships with its customers, partners, and communities and engages in philanthropy. In the last 70 years, the family has built trusts and foundations for social development and healthcare, gifting science, technology, education, art, and culture to society. Companies owned by the group are Birlasoft, HIL Limited, Orient Electric, CK Birla Healthcare, GMMCO, NBC Bearings, Orient Cement, Orient Paper, AVTEC, and Neosym Industries.

About Amazon Web Services India Private Limited:

Since its launch in 2006, Amazon Web Services India Private Limited has provided prime cloud technologies that assist organisations and individuals in developing solutions to improve industries, communities, and lives. As an Amazon company, AWS focuses on being the most customer-centric company on Earth. This they achieve by being informed about the challenges of their customers in providing cloud infrastructure serving their needs, enabling constant innovation, and pushing the boundaries of what's possible. Whether an entrepreneur with a new venture, an established company looking to reinvent itself, a not-for-profit continuing to advance its mission, or a government looking to serve its citizens, customers trust AWS to achieve their goals, implement their ideas, and store and protect their data.