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Business Economy


KDDL Ltd to acquire Estima AG

KDDL Ltd to acquire Estima AG

Mumbai, Dec 11 (UNI) KDDL Limited said that its Board of Directors of Company at its meeting held on December 10, 2018 has approved an agreement for acquisition of a Swiss Watch Hands manufacturing

Company named "Estima AG", Allerheiligenstrasse 30, 2540 Grenchen, Switzerland through its subsidiaries "Pylania SA" and special purpose vehicle "Kamla International Holdings SA".

The Target Company acquisition will help the Company to capture additional market share of customers in European market serviced by Estima.

The cost of acquisition will be Cash CHF 4,00,000 for 100 percent Shares.

The existing operations of Estima AG, Switzerland are Watch Hands manufacturing and revenue is in the range of CHF 2 million.

Estima was a competitor of the Company in the business of watch hands manufacturing.

Estima was established as a maker of watch hands in Switzerland in 1924. It was a leading supplier to Swiss and other European watch brands in the mid-priced segment and enjoyed an excellent reputation. However, over last 10 years, it was unable to keep up with market changes and lost market share leading to declining

turnover and mounting losses.

UNI JS SY 1258

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Businesses have possibility of finding solutions to make environment better: Prabhu

05 Jun 2020 | 9:10 PM

New Delhi, Jun 5 (UNI) India’s Sherpa to G20 & G7 and former Minister of Commerce and Industry and Civil Aviation Suresh Prabhu on Friday said businesses have a possibility of finding solutions to make environment better and there is a need to focus on working together for improving the ecosystem for future generations.

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2020 Q1: Huami Ranked the Top 5 in both Global Watch Shipment and Market Share

05 Jun 2020 | 9:06 PM

SHENZHEN, China, June 5, 2020 /PRNewswire/ -- Huami (NYSE: HMI) with its self-owned brand Amazfit, ranked the Top 5 in terms of global watch shipment and market share in the first quarter of 2020, according to data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker. With a year-on-year growth of 80.2%, Huami greatly surpassed the overall growth rate of the adult watch market.

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Arçelik Has Announced Its Sustainability Targets for 2030

05 Jun 2020 | 9:06 PM

ISTANBUL, June 5, 2020 /PRNewswire/ -- Adopting sustainability as a business model with its "Respecting the World, Respected Worldwide" vision, Arçelik published its 12th Sustainability Report, announcing short, medium, and long-term targets towards 2030.

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Power Minister launches ‘iCommit’ initiative on World Environment Day

05 Jun 2020 | 8:59 PM

New Delhi, Jun 5 (UNI) On the occasion of World Environment Day, Minister of State (IC) for Power and New & Renewable Energy R K Singh, on Friday initiated the ‘#iCommit’ campaign.

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Ola unveils ‘Ride Safe India’ initiative; commits Rs 500 crores to enable safe mobility

05 Jun 2020 | 8:22 PM

Kolkata, Jun (UNI) India’s leading mobility platform and one of the world’s largest ride-hailing companies, Ola, has committed a sum of Rs 500 crores over the next year towards various initiatives globally, to enhance safety in mobility in the fight against COVID-19.

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