MUMBAI: The board of directors of VXL Instruments have decided to convene an EGM on December 27 to seek the approval of shareholders to issue further shares or warrants. The company has stated this in a notice issued to the Bombay Stock Exchange. et share we would not only enhance out Manpower, but also increase our distribution network through forming alliances with companies which have a wide distribution network," he said,
Caltex Lubricants has, in die past five to six years, invested $100 million here and future investments would depend on the prospects of the company's growth in the country, he said while declining to comment on the exact quantum of investments envisaged by the US company.
Earlier, launching Caltex Havoline Energy, he said the US multinational had already restructured its arrangement in the joint venture Caltex lubricants India by buying the entire 49 per cent equity of state-owned IBP in September this year.
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'We had restructured out arrangements with IBP as both of us did not share the same views of the marketing strategy of lubricants in India. We have amicably settled the issue," Bardell said.
In the automobile range, Caltex caters to the passenger and commercial vehicles and the two-wheel er segment with brands such as Daelo, Revtex, XL coolant, Thuban gear oil, Marfak grease and the newly launched Havoline range of oils.
Stating that the change in the automobile industry has been phenomenal, he added that Havoline Motor Oil would provide better fuel efficiency and also be economical. Caltex launched two of its brands including the Havoline Motor Oil and the Havoline Energy. While one litre of Havoline Motor Oil would cost Rs 100, the Havoline Energy would cost Rs 350 per litre, he said.