Page 10 - ETP-April-May2020

NEWS NATIONAL

TVS Group develops respiratory assist device

he TVS group, the Sundaram ram Ventago is a ‘Make in India’
TMedical Foundation, and IIT- product with a local supply chain,
Madras have jointly developed a based on proven global technology.
low-cost automated respiratory assist It can be produced quickly in larger
device called The Sundaram Ven- numbers. The Sundaram Ventago
tago. This was done in collaboration will also have a great impact post-
with esteemed hospitals like Kauvery COVID as this device can make
Hospital and the Madras Medical respiratory support more affordable
College and with guidance from and available to all.” The Sundaram
global educational institutions like Ventago provides physicians a sim-
MIT-Boston. The Sundaram Ven- ple and cost-effective option when
tago is designed to internationally incoming patients with respiratory
accepted medical standards with an Commenting on the Sundaram difficulty surpasses ventilator capac-
objective to give every patient equal Ventago development, Sriram Viji, ity and is especially useful in remote
access to quality medical support at Deputy Managing Director – Brakes and rural areas where ventilator fa-
an affordable cost. India, TVS Group said, “The Sunda- cilities are not available.

Freudenberg sales in India Emerald Sage to acquire stake in
grows by 5.7 percent Apollo Tyres

reudenberg has performed well in the 2019 financial he Competition Commission of India (CCI) has ap-
Fyear, despite the difficult economic and geopolitical Tproved the proposed acquisition of 9.93 percent stake by
market environment. At Rs.74,583 crore (or €9,467.8 Emerald Sage Investment Limited in Apollo Tyres Limited.
million), sales in 2019 were at about the same level as in The proposed combination envisages subscription by Emer-
2018 (Rs.76,235 crore or €9,455.4 million). Freuden- ald Sage Investment Limited (Emerald) to 10.80 crores com-
berg also pulsorily convertible preference shares constituting approxi-
per formed mately 9.93 percent
strongly in of the post-issue
India, with paid up share capi-
sales growing tal of Apollo Tyres
by 5.7 percent to Limited (Apollo).
Rs.2,533 crore (or Emerald is an
€321 million). This rise is the investment holding
result of continuous investments company incorpo-
in existing and new projects. “We once rated under the laws
again focussed heavily in our future, in ma- of Mauritius. Shareholders of Emerald are certain private eq-
chines, equipment, acquisitions and, above all, in the uity funds managed by Warburg Pincus LLC, which acts as a
three focus areas of our 2018 to 2020 strategic planning manager to certain private equity funds. The portfolio com-
period: Mobility, Digitalization and Sustainability,” panies owned by these private equity funds are active in a va-
The Economic Times POLYMERS | April-May 2020
said Georg Graf, Freudenberg’s Regional Representa- riety of sectors including energy, financial services, healthcare
tive in India. Freudenberg’s seven Business Groups in and consumer, industrial and business services, technology,
India have a total workforce of some 2,844 employees media and telecommunications. Apollo is engaged in manu-
at around 50 locations – running six R&D centers and facturing and sale of automotive tyres.
16 production sites.
“Following the coronavirus-related complete shut-
down, our companies in India will work hard to reach NTPC & ONGC to set up JV
normal operating levels again,” says Graf. “Together
with our colleagues, customers and partners we are do- TPC Ltd. and Oil and Natural Gas Corporation Lim-
ing our part to pave the way for long-term growth. We Nited (ONGC) have signed a Memorandum of Un-
continue to provide world class products made by the derstanding (MoU) to set up a Joint Venture Company for
dedicated workforce to the Indian community aligned Renewable Energy business. The MoU will enable both com-
with our vision of long-term commitment and support- panies to accelerate their footprint in Renewable Energy. As
ing the ‘Make in India’ initiative”. Freudenberg expects per the MoU, NTPC and ONGC will explore the setting
the environment to remain challenging in the 2020 fi- up of offshore wind and other Renewable Energy Projects in
nancial year. India and overseas.

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