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Nitin fire protection buys 40% stake in dubai co by business standard
Nitin Fire Protection Industries has acquired 40 per cent stake in a Dubai based fire protection company New Age Company LLC. New Age Co is engaged in manufacture and installation of fire protection and detection systems, emergency lighting system, water mist fire protection system and the entire activity includes supply and installation, testing and commissioning of equipment system and maintenance, said the release. For the year ending 2007-08, Nitin Fire had net sales of Rs 44 crore.The company did not disclose the deal size.

Govt withdraws export sops on basmati Business standard
With inflation for the week ended March 22 hitting a 3-year high of 7 per cent, the government, in an effort to control inflation, today stopped export sops on basmati rice.
"Export of basmati rice shall not be entitled for DEPB (Duty Entitlement Pass Book) benefits," the Directorate General of Foreign Trade said in a notice.
The government has already banned export of non-basmati rice and raised the minimum export price for basmati rice.

Jubilant acquires DRAXIS for $225mn business standard
Leading contract drug maker Jubilant Organosys today announced the acquisition of Canadian speciality drug company DRAXIS Health for $255 million (around Rs 1020 crore).
The board of DRAXIS has given its unanimous approval and the transaction is expected to close in the second quarter of 2008 after the necessary shareholder and court approvals.
This is Jubilant’s second major acquisition in North America, after it bought the US injectable maker Hollister for $122 million in April 2007.
The DRAXIS acquisition will help Jubilant expand its contract manufacturing business in the regulated, high-growth and high-margin area of radiopharmaceuticals and injectables.
With this acquisition, Jubilant will be among the leading providers of contract manufacturing of small volume parenterals to large pharmaceuticals and biotech companies in North America. DRAXIS has an excellent regulatory track record, with its management and employees having a wealth of experience and expertise in radiopharmaceuticals and contract manufacturing.Jubilant has diversified its manufacturing facilities across eight locations world-wide: Gajraula (UP), Nanjangud (Karnataka), Roorkee (Uttarakhand), Nira (Maharashtra), Udaipur (Rajasthan), Samlaya (Gujrat), Salisbury in Maryland (USA) and Spokane in Washington (USA).