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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4400)	5/29/1999 10:51:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Bausch & Lomb India 98/99 net up 154 pct NEW DELHI, May 29 (Reuters) - Bausch & Lomb India, a unit of Bosch & Lomb Inc (NYSE:BOL - news) said on Saturday its net profit in 1998/1999 had increased by 154 percent to 136.1 million rupees from 53.5 million rupees the previous year. Baush & Lomb said in a statement its sales in 1998/99 grew 35 percent to 897.1 million rupees from 663.4 million rupees in the previous year. In a separate statement, Bausch & Lomb India (BIL) said its board had announced parent Bosch & Lomb Inc's intention to sell its holding in its Indian unit to Italy's Luxottica Group SpA (NYSE:LUX - news). Bausch & Lomb Inc said last month it was selling its sunglasss business to Luxottica in a deal worth $640 million in cash. ''In terms of the agreement between Bausch & Lomb and Luxottica, Luxottica will consider purchasing Bausch & Lomb's current shareholdings in BLI, provided requisite governmental regulatory approvals in the U.S. and India are satisfactorily obtained and the vision care business of BLI is divested,'' the statement said. It quoted Bausch & Lomb's Chairman and Chief Executive Officer William Carpenter as saying ''Luxottica, being one of the world's premier eyewear companies, is eminently positioned to manage the profitable sunglass business in India.'' Bausch & Lomb India said its vision-care business, consisting of contact lenses and contact lens care products, was not in Luxottica's line of business. ''Consistent losses have been incurred by BLI's vision care business since its inception, given the level of eye care in India and the low level of awareness of contact lenses, and it is expected that the vision care business will require much effort and investment to grow and yield returns,'' the statement said. It said Bausch & Lomb Inc would in due course propose to BIL the ''smooth divestiture of the vision care business.'' biz.yahoo.com

To: Mohan Marette who wrote (4400)	5/29/1999 12:06:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

USA alarmed by the use of Stinger by the Pakis,Af-gooons.(Oh really?) ......... Meanwhile, external affairs ministry officials pointed out that the international community, especially the US, are alarmed by the apparent use of Stinger missiles by the Pakistani intruders among whom a substantial number of Afghan war veterans are present. They said ironically, it was the US which supplied billions of dollars worth of arms and ammunition to the Afghan mujahideen via Pakistan to counter the Soviet intervention in Afghanistan in the 1980s. The officials indicated the Americans have r long been worried that a large number of Stinger missiles had been purloined from Pakistan when given to Islamabad for safekeeping. They alleged that the infamous Ojheri blast occurred after Pakistani officials deliberately set fire to the Ojheri arms depot to thwart the CIA which wanted to inspect the US-supplied arms and ammunition. MEA officials claimed the Pakistani authorities had already removed many Stinger missiles from Ojheri and did not want the US to know about this. As underscored by American officials in Washington yesterday, the Stinger missiles could now be in the possession of Islamic radicals in Afghanistan, many of whom have a pathological hatred against all things American. This appears to have constrained the US not to interfere in the Kargil conflict. rediff.com