Strategic Management

Assignment On

Joint Ventures

Submitted By: Group 10

Group Members Roll No.

Jayshree Deore C-09

Safiya D. Shaikh C-46

Devaki Kalaskar C-52

Manas Chaturvedi EX-03

Umesh kolekar EX-01

Pratik Kharat P-
INDEX

List of Joint Ventures

 Burberry with Genesis Colors

 Steel Authority of India (SAIL) Japan’s Kobe Steel

 Tata Global Beverages and PepsiCo

 Felix Dennis Media Transasia

 Ashok Leyland and Nissan

 Hexcel Corporation Sime Darby Berhad and Malaysia Helicopter Services (MHS)

 Al Rayan investment with SapuraCrest Petroleum

 General Motors with Malaysia's DRB-HICOM

 Lycos with Singapore Telecom

 Pinsents seals with Singapore association firm

 NTPC with Asian Development Bank and Kyuden International Corporation

 Zynga, and Softbank Corporation

 Sony’s E-Book Joint Venture in Japan

 Fast Retailing forms Bangladesh joint venture

 GE with Triveni Engineering & Industries Limited

 Virgin Group and Tata Tele Services:

 Marks & Spencer and Reliance Retail of India:

 Tata Motors and Fiat

 TATA and AIG

 Bharti and Wal-Mart:

 Sony and Ericsson:

 Reliance Broadcast and CBS:

 Mahindra and Renault:

 Nilpeter and Proteck Machine:

 Bajaj and Allianz

 Sigel & Co. and Manning J.

 Dynatec Corporation & Phelps Dodge Corporation

 National Chemical Carriers Ltd. Co. “NCC” & Odfjell SE

 MPM Technologies Inc. (MPM) and Losonoco Inc.

 Advanced Information Services NJ, with a software company

 Germany and China sign for joint venture

 Schenker and Siemens set up joint venture for contract logistics

 French car maker Renault has a joint venture with M&M

 Conair joint venture with Nu-Vu in India

 Visa and Monitise

Assignment on joint venture

Submitted by: Jayshree S. Deore ( C-09 )

1) BURBERRY is to expand its presence in India, a market in which the

ultra-rich are thriving because of a soaring stock market with Genesis Colors,
the Indian fashion retailer

The 153-year-old company, best-known for its signature trench coats, plans to tie up with
Genesis Colors, the Indian fashion retailer, and has applied for government clearance.
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Burberry hopes to repeat in the sub-continent its success in China, where it operates 44 stores
and is enjoying double-digit percentage revenue growth.

Angela Ahrendts, Burberry's chief executive, said: “Obviously, India is on a different curve, we
only have about two stores there now, but I see the same growth potential.”

The company runs its two Indian stores through a franchisee arrangement with Media Star, an
Indian group. That arrangement is set to be dissolved when the new joint venture is established.

Other British retailers, including Mother care, the baby product retailer, have recently turned
from franchise deals to enter joint ventures instead. It is thought that Burberry will invest L2.1
million ($3.8 million) for a 51 per cent stake in the venture, which hopes to open 21 stores across
India.

This week the company reported a 19 per cent fall in operating profits to L86.3 million for the
six months to September 30, beating analysts' average forecast of L83 million, helped by cost
cuts.

The appetite of wealthy Indian consumers for western luxury brands is well established. Mumbai
has one of the few shopping centers to sport a Rolls-Royce showroom - it is about a 30-minute
drive from India's biggest slum.

Last year, Stella McCartney, the designer, unveiled plans for six stores across the sub-continent -
a bet on Bangalore's fashionistas matching the profligacy of their peers in Moscow and Los
Angeles. Burberry's move comes as a surging stock market has almost doubled the number of
billionaires in India in the past year.
2) KOLKATA: Steel Authority of India (SAIL) hopes to stitch up a joint
venture with Japan’s Kobe Steel within the next six months.

The two companies are in talks to set up a 0.5 million tonne Greenfield steel plant in India using
Kobe Steel’s pioneering new steel-making technology.

“We are engaged in a feasibility study about the proposed venture, which we hope to complete in
three months. Following this, we are looking at finalizing the JV,” SAIL chairman CS Verma
told ET.

The new unit will put into use Kobe Steel’s iron-making technology to make nuggets. These can
be used with fines and thermal coal for steel making. The unit will produce a special type of
alloy steel which will have specific applications. As far as the technology goes, this will be a
first-of-its-kind venture for SAIL.

“Details of the venture, including the investment required, equity shareholding between the
partners and location will be decided after the feasibility report is submitted,” Mr. Verma said.

A source familiar with the matter added: “SAIL’s alloy steel plant at Durgapur is being
considered as a possible location for the unit.

To a query on the size of the proposed plant, Mr. Verma said: “The technology is available in
modules of 0.5 mt each. We are in the process of deciding whether to set up a single module or
establish a 1 mt capacity with two such modules.’

The new unit will use Kobe Steel’s ‘ITmk3 technology, which is an innovative next-generation
iron-making process. Compared to traditional blast furnace method, it uses a completely different
concept.
3) Tata-Pepsi to focus on affordable packaged water in India

According to reports in the Indian press, the proposed joint venture between Tata Global
Beverages and PepsiCo, announced this April to develop beverages in the health and wellness
space, is likely to begin with developing affordable water.

Discussions focus; say sources, on the possibility of pricing a 1-litre bottle of water below Rs10,
perhaps even around Rs5. The joint venture may also offer fortified water and low-priced
beverages in the wellness space to attract health-conscious customers.

The current standard price at which most 1-litre bottled water brands, including Coca-Cola’s
Kinley, PepsiCo’s Aquafina and Parle’s Bisleri, are available is around Rs15. Himalayan, a
product from TGB, is available at over Rs20, positioned on a premium platform as opposed to
those popular brands.

The joint venture, reports say, will not develop products related to tea, as PepsiCo already has a
tie-up with Unilever on tea beverages across the globe. It’s expected to cover areas other than
India, too.

Executives in the Tata Group say while TGB, formerly known as Tata Tea, focuses on products
that are ‘value-accretive’, the joint venture will dwell on products for the masses. “This way, we
avoid any conflict whatsoever,” said one.

LK Krishnakumar, group chief financial officer for TGB, declined to comment, saying the nature
and scope of the proposed joint venture was yet to be finalized. “It will take a few months,” they
said. “I cannot comment on market speculation.”

A PepsiCo India spokesperson also said the company did not comment on market speculation.

The Indian packaged water market is already worth Rs1,500 crore to Rs2,000 crore, and
constitutes 15-20% of the overall packaged beverage industry, which sees around Rs12,000 crore
of annual sales. The water market is growing at about 20% yearly, but margins are very low as
many companies do heavy discounting in the retail market. The market is divided into two
distinct segments, institutional and retail.

The Tatas have also looked at affordable delivery of water. Last year, the group launched
‘Swach’, a compact and affordable 19-litre water purifier. Tata Chemicals, which built the
product, had announced it would sell a million such pieces across the country in a year. The aim
is to provide drinking water at only Rs30 per month for a family of five.
4) Dennis launches Indian joint venture with privately-owned Media
Transasia.

Felix Dennis plans to create the largest men's publisher in India by launching a joint venture with
privately-owned Media Transasia.

Dennis Publishing has teamed up with Media Transasia to create Dennis Media Transasia India,
a privately-owned company that will be based in New Delhi, days after announcing that the
company's news digest The Week will launch in Australia.

Transmedia has published Dennis's men's title Maxim under license since 2005 in Asia.

The new joint venture will immediately add the music magazine Blender to its portfolio and
plans new magazine and website launches during the next six months.

"Dennis Publishing will ally its men's sector expertise (Maxim, Men's Fitness, evo, Monkey) to
the local knowledge and capabilities of Media Transasia, to continue to develop brands like
Blender and introduce key international licences in this sector," Dennis Publishing said.

"The long-term aim is for Dennis Media Transasia India Ltd to become the largest men's
publisher in India."

Earlier this week, Dennis told the Financial Times that the would be "astonished" if The Week
was not publishing in India within four years.

Media Transasia was founded in 1977 and is based in Thailand. The company also publishes in
Hong Kong and has five centres in India in Delhi, Mumbai, Bangalore, Chennai and Kolkata,
publishing Golf Style, Better Homes and Gardens and Discover India.
5) Ashok Leyland, Nissan reworking joint venture

MUMBAI (Reuters) - Indian commercial vehicle maker Ashok Leyland and Japan's Nissan
Motor Co are reworking their joint venture to produce light commercial vehicles, a senior
official from Ashok Leyland said on Friday.

Among the issues being reconsidered are levels of investment, types of products to be introduced
and the location of the project, Chief Financial Officer K. Sridharan told reporters in a
conference call.

"Both the partners are working in terms of the revised plan. Obviously it will be too early for me
to comment on what will be shape of the outcome of that discussion, so we need to wait for that,"
he said.

But he said there was no question of pulling out of the venture, which had already been delayed
by the slowing economy, Sridharan said.

Nissan had said last year the joint venture would delay production by about six months to
September 2011, due to the depressed demand for trucks in India.

Originally it was to have started production during the business year starting in April 2010 with
80 percent of output slated for sale in India.

The plant was to be set up in Pillaipakkam, near the southern city of Chennai, with an initial
capacity of 100,000 units a year.
 Joint venture

Submitted by: Devaki Kalaskar ( C-52 )

Joint venture 1

Hexcel Corporation Sime Darby Berhad and Malaysia Helicopter

Services (MHS)
They have agreed to form a joint venture to manufacture composite commercial
aircraft parts in Malaysia.
key contractual terms of the planned joint venture, and are expected to be
completed over the next several months.

The composites-manufacturing venture, to be known as Asian Composite

Manufacturing Sdn. Bhd., will make composite parts for secondary structures
for commercial aircraft, then supply these parts to Hexcel's facility in Kent,
Wash., for final assembly and shipment to Boeing and to other customers
worldwide.

The facility will be built in Alor Setar, in the state of Kedah, which is in the
northern region of Malaysia near the Thailand border. Both Sime Darby
Berhad and MHS are headquartered in Malaysia.
Given current economic and market forecasts, neither Boeing nor Hexcel
anticipate any layoffs resulting from this joint venture.
Joint venture 2

Al Rayan Investment forms joint venture with Malaysian-based

SapuraCrest Petroleum

Al Rayan Investment LLC, a wholly-owned subsidiary of Masraf Al Rayan

announced a joint venture with Malaysia-based oil and gas services company,
SapuraCrest Ventures Sdn Bhd, formerly known as Petro-Plus Sdn Bhd - a
wholly-owned subsidiary of Sapuracrest Petroleum Berhad
Joint venture called SapuraCrest Qatar LLC to operate in the oil and gas sector

The joint venture will see the incorporation of a new company called
SapuraCrest Qatar LLC, which will leverage the expertise and experience of
SapuraCrest Petroleum in the oil and gas services sectors in Qatar.

This joint venture will be established after seeking and obtaining the necessary
approvals from all relevant authorities.

"This partnership offers a unique synergy that will establish SapuraCrest Qatar
as a key player in the region's oil and gas industry. Al Rayan Investment has a
well entrenched regional market presence, which will be complemented by the
substantial expertise and experience of SapuraCrest Petroleum in the oil and
gas services industry."

The joint venture agreement was signed in Doha, Qatar. Share ownership in
the new joint venture will see Al Rayan owning 51% of its issued shares while
SapuraCrest Ventures will own the remaining 49%.
Joint venture 3

General Motors forms 50 mln ringgit joint-venture with Malaysia's DRB-

HICOM

KUALA LUMPUR (Thomson Financial) - General Motors Corp has joined hands
with DRB-HICOM, Malaysia's largest car distributor and importer, to form a
new company to distribute their new Chevrolet, the firms announced Tuesday.
The world's largest carmaker will hold a 51 percent stake in the new company,
HICOM-Chevrolet Sdn Bhd, while DRB-HICOM will hold 49 percent.
Steve Carlisle, president of GM's Southeast Asia operations, said they have
long-term plans to build an assembly plant in Malaysia for the local market.

Joint venture 4
Lycos in joint venture with Singapore Telecom
Web portal Lycos has entered into a joint venture with Singapore Telecom in an
effort to tap the growing number of Internet users in Asia.

Called Lycos Asia, the venture will create local language versions of Lycos and
its Tripod home page community in Singapore, China, Taiwan, Hong Kong,
Malaysia, and India. Lycos will provide content, and SingTel will manage day-
to-day operations, sales, and marketing, according to the Waltham,
Massachusetts-based Lycos.

Lycos and SingTel will each own 50 percent of Lycos Asia. The companies will
invest a total of $50 million into the venture.
Joint venture 5

Pinsents seals joint venture deal with Singapore association firm

Pinsent Masons has entered into a joint venture with Singapore ally MPillay
that will allow the firm to practise aspects of local law in the region.
The new venture, which will be called Pinsent Masons MPillay, will see both
firms share profits.

MPillay founder and managing partner Mohan Pillay will become a partner at
Pinsents and the UK firm will relocate partner Jon Howe and senior associate
Wei Yaw Lam from its Hong Kong office to support the new venture.
The joint venture will allow Pinsents to practise both local and international
law in the country, with the exception of conveyancing and family law.
Pinsents' association with MPillay dates back to October 2007 when the firm
formalised its relationship with Pillay, who had been acting as an unofficial
consultant to Pinsents before setting up MPillay to allow the UK firm access to
the Singaporean courts and local advice.

Pinsents senior partner Chris Mullen (pictured) said: "Singapore has become a
big centre for international arbitration and the whole region including India,
and we have a long-established office in Hong Kong from which we have been
sending people down to Singapore to complete work in this area.
The firms applied for the joint venture six months ago and were granted the
licence by the Attorney General in Singapore this month.
Assignment on joint venture

Submitted by: Safiya D. Shaikh ( C-46 )

1) NTPC in joint venture with Japan co, ADB

June 22, 2010, 01.14am IST

NEW DELHI: For state-run generation utility NTPC, the answer is blowing in the wind. Stung
by high fuel costs, the company is chasing a green dream by forming a joint venture with the
Asian Development Bank and Kyuden International Corporation, a wholly-owned subsidiary of
Japan's Kyushu Electric Power Company, for producing power from renewable sources.

The joint venture has set a target of achieving a capacity to produce 500mw — primarily from
wind power plants and small hydel projects — within three years. The venture will eventually
look at setting up such plants abroad in future. NTPC will initially hold 50% in the venture and
the other two partners will have 25% each.

The move is part of NTPC's strategy of adding 1,000 mw green capacity to its portfolio in the
long term. This is aimed at rationalizing fuel usage and better manage peak load. Besides, such
actions will improve the company's green footprint and help it secure a bigger pie of the carbon
credit market.
Initially, GE Energy Financial Services of the US and Brookfield Power Company Ltd of
Canada were also part of the venture. But they later exited in the wake of the global downturn.
The joint venture aims at taking in one more strategic partner in the next 12 months. After
induction of the new investor, NTPC's equity will come down to 40.3% and the three other
partners will have 19.9% each.

NTPC's foray into wind power comes after similar strategies adopted by other companies such as
ONGC, HPCL, Tata Power, Reliance Energy and BP.
2) Zynga, Softbank Establish Joint Venture In Japan

July 29, 2010

Farmville developer ZYNGA AND SOFTBANK CORP. LAUNCH JOINT VENTURE TO

ACCELERATE SOCIAL GAME INDUSTRY IN ASIA

SOFTBANK INVESTS $150 MILLION IN ZYNGA

SAN FRANCISCO and TOKYO–July 29, 2010–Zynga and Softbank announced a joint
venture that will develop and distribute social games across Japan. The new joint venture, Zynga
Japan, brings together leaders in social games and consumer technology to offer millions of new
users the ability to play social games anytime and anywhere. In conjunction with this
announcement, Softbank has completed a $150 million investment in Zynga. With this
agreement, Zynga and Softbank will tighten their relationship as business partners.

The joint venture extends Zynga’s reach to a wider global audience and marks the company’s
first foray into the rapidly growing internet and mobile market in Japan. Based in Tokyo, Zynga
Japan will tap into Japan’s rich history of gaming and leverage Softbank’s cutting edge mobile
and Web technology to produce the best social games in the market.

“Zynga is a leader in social games and I am delighted to partner with them to introduce their
social games to Japan,” said Masayoshi Son, chairman and CEO of Softbank. “We share the
same vision as Zynga in social games and look forward to working together to create a social
game powerhouse.”

“We’re excited to partner with Softbank to bring Zynga’s social games to Japan and gain insights
from the Japanese market,” said Mark Pincus, CEO and Founder of Zynga. “As one of the most
innovative technology companies in the world, Softbank is bringing the mobile internet to
consumers making the social web more accessible to people everywhere.”
3) Sony Launches E-Book Joint Venture in Japan Ahead of iPad's
Arrival

27th May 2010 – 11:39A.M

Sony (SNE) is going home and hitting the books -- the e-books, that is. On 27th May, the
electronics giant unveiled a Japanese e-book distribution joint venture that's taking aim at rival
Apple (AAPL), which just happens to be launching its iPad in Japan

Sony, which sells three versions of its eBook Reader in the U.S., doesn't sell any in Japan right
now, but it's gearing up to defend its home turf later this year.

Sony is teaming up with Toppan Printing, telecommunications company KDDI and newspaper
giant Asahi Shimbun as part of the e-book venture, which is scheduled to begin its content
service sometime later this year. The service will feature an open platform upon which a range of
devices will be able to access comics, books, magazines and newspapers provided by the
founding participants and others who later sign on. Each of the four corporate participants will
own a 25% stake in the new venture, which will aggregate content from publishers and
newspapers, as well as handle digital content authoring, platform management, sales and
distribution.

Earlier E-Readers Didn't Catch on in Japan

As part of the greater plan, Sony will re-enter the Japanese market with a new e-reader Sony has
previously attempted to launch e-readers in Japan, but the devices struggled to find a market.
But a lot has changed since 2007. The amount of content for e-books has steadily increased
Factor in Google's plethora of content, and it is clear that the environment is entirely different
than it was just a few years ago.
"With the establishment of this joint venture concerning eBook distribution, Sony is hopeful
about the accelerated process for creating a system whereby eBooks, which we publishers have
promoted, can be delivered to consumers," says Yoshinobu Noma, Kondansha vice president.
4) JAPAN: Fast Retailing forms Bangladesh joint venture
September 2010
Japanese fashion group Fast Retailing is to set up a socially responsible joint venture in
Bangladesh in September that will both make and sell clothing in the country.

Its new subsidiary Uniqlo Social Business Bangladesh will form the venture with Grameen
Healthcare Trust of the Grameen Bank Group.

Fast Retailing said the objective of joint venture was to "help solve social problems, including
poverty, sanitation and education issues in Bangladesh through the planning, production and sale
of clothing".

The joint venture will be called Grameen Uniqlo and be located in the Bangladeshi capital of
Dhaka.

A statement by the company said: "Bangladesh is expected to experience economic growth, with
much of it driven by the textile industry, but it's people still face an abundance of social
problems, including poverty, sanitation and education.

"Utilizing our unique SPA (specialty store retailer of private label apparel) know-how, we will
plan, produce and sell clothing at a price point that is affordable to people living below the
poverty line while still maintaining product quality.

"This joint venture will also create jobs, thereby improving the lives of the Bangladeshi people."

On the retail front, Fast Retailing also plans to use Grameen's borrower network of 8m people to
create jobs selling clothes door-to-door in the country.

In the first year, the company plans to generate work for 250 people and to increase this figure to
1,500 within three years.
5) GE and Triveni form a Joint Venture in India to Target Global
Power Generation Market

15 April 2010

 JV Provides High-Tech Solution to Power Equipment Manufacturing, Underscores GE’s

Commitment to India

NEW DELHI, INDIA—April 15, 2010—GE Oil & Gas, through one if its affiliates, and Triveni
Engineering & Industries Limited (Triveni) have signed a joint venture (JV) agreement to design,
manufacture, supply, sell and service advanced technology steam turbines in India in the above
30 to 100 MW range for power generation applications in the Indian and worldwide markets.

GE Triveni Limited, which will be incorporated in India and headquartered in Bangalore, will
manufacture advanced technology steam turbines in India for both domestic customers and
export to global markets. The JV, which will benefit from a full technology transfer and on-
going R&D support from GE, will use Triveni’s Bangalore facility for turbine manufacturing.

Signing the agreement for GE, Joe Mastrangelo, vice president—turbomachinery, GE Oil & Gas
said: “Triveni is a terrific partner for GE, particularly given its cultural fit with GE Oil & Gas,
excellent supply-chain and established presence in India. Our high-tech partnership will build
on our combined engineering expertise, offering customers worldwide a high quality, optimum
efficiency and best-value power generation solution.”

Dhruv M. Sawhney, chairman and managing director, Triveni Engineering & Industries Ltd,
said: “This is a vote of confidence in Indian manufacturing and great news for Bangalore, where
the JV and Triveni’s facilities are based. With our manufacturing capabilities as a springboard,
GE’s world-class engineering, global footprint and brand recognition will be critical to the
success of the partnership. I believe this is a big step forward in Triveni’s business development
plans, and we are immensely proud and privileged that GE has chosen us as its partner.”
 VARIOUS EXAMPLES OF JOINT VENTURES:
Submitted by: Manas Chaturvedi Ex 03

Joint Venture between Nilpeter and Proteck Machine:

 At the upcoming India Label Show in December in New Delhi, Nilpeter and Proteck Machinery
will introduce the newly formed joint venture company, named Nilpeter India Pvt. Ltd.

'Over the past two years Nilpeter has watched the Indian label market grow intensively. In 2007
we started our cooperation with Proteck Machinery as our agent for sales and service in India
and quickly found that we share the same set of company values,' sales and marketing director
Jakob Landberg stated. 'The partnership has led to a closer cooperation and by combining
Nilpeter's label press know-how and Proteck's manufacturing competences, we expect to
introduce a locally produced press to the Indian market early 2009.'

The Nilpeter India sales department is headed by Manish Kapoor, who has been in the industry
for over 15 years; the application department by C. Kanivannan; and the managing director is
Alan Barretto.

'Nilpeter India has decided to set up offices in Chennai,' said Alan Barretto, 'close to Proteck and
many other Danish industrial giants in order to take advantages of the many synergy effects. We
will use the same high quality Nilpeter parts as normally expected by the label printer. The
obvious advantage for the Indian printers is shorter delivery times of the press itself. However,
quick delivery of parts and service, all only hours away, no matter where in India the press is
installed, makes us stand out from competition.' By introducing the latest auxiliaries like rotary
screen, cold foil and hot foil stamping which increases supporting capacity, Nilpeter is entering a
joint venture with its sales and service partner Proteck Machinery. Currently Proteck offers sales
and technical support services for Nilpeter in India. Nilpeter is a strongly established firm in US
and Danish manufacturing units. Their objective is to manufacture flexo servo presses in India
which resembles the Nilpeter FB-line machine’s design. The joint venture manufacturing
announcement follows the first Indian installation of a Nilpeter FB3300 Servo press at Ajanta
Packaging Daman Plant.   At the show Nilpeter will display its FB-3300 servo machine. The
press will be installed at Synergy Print in Mumbai after the show. 
 Joint Venture between Virgin Group and Tata Tele Services:

 Virgin Mobile India Limited is a cellular telephone service provider company which is a joint
venture between Tata Teleservices and Richard Branson's Virgin Group. Currently, the company
uses Tata's CDMA network to offer its services under the brand name Virgin Mobile, and it has
also started GSM services in some states. The latest deal between Tata Teleservices and Virgin
Mobile drew strong protest from the other GSM operators of India. The Virgin Group entered
into the partnership with Tata Indicom. Tata Indicom will market certain mobile services using
the Virgin brand.

Virgin has partnered with Tata Telecom services in India keeping its rates for outgoing calls in
line with those of competitors. The new mobile operator is the “first nation-wide youth focused
mobile service” and the “first CDMA service where all customers will be on RUIM (SIM)-based
phones.
 Joint Venture between Marks & Spencer and Reliance Retail of India:

In April 2008, Reliance Retail Limited (RRL) and Marks & Spencer (M&S) announced their
plans to enter into a joint venture (JV). The JV would help M&S to expand its operations in India
by widening its portfolio and RRL to position itself in the higher strata of the society, targeting
premium customers. However, analysts felt that the JV could face competition from existing
Indian retail major Pantaloons Retail India Ltd and other global retailers such as Wal-Mart,
Tesco, and Carrefour, who were trying to gain a foothold in the country's retail sector.

Britain's largest retailer Marks and Spencer (M&S) will open at least 50 stores across India over
the next five years after signing a path-breaking agreement with the Mukesh Ambani-led
Reliance Retail Ltd (RRL) Friday.

The two companies have set up a new joint venture, Marks and Spencer Reliance India, with an
initial investment of 29 million pounds (Rs.2.3 billion), setting the scene for major foreign
investments in the lucrative Indian retail sector.

M&S will hold 51 per cent stake in the JV, while the remaining will be held by RRL. The new
firm will be named Marks and Spencer Reliance India Pvt Ltd, according to an RRL release
issued here Friday. The new stores are likely to be what reports in London have called 'seamless
malls' - massive shops within shops and standalone boutiques selling mainly clothes and
homeware - in Mumbai, Delhi, Bangalore and other major cities.

The proposal is awaiting approval from the Foreign Investment Promotion Board (FIPB) of
India. Though the initial investment will touch 29 million pounds (in cash or in kind), both firms
have agreed to go for further funding as and when required.

Commenting on the deal, Reliance Industries chairman Mukesh Ambani said: "Marks and
Spencer is a very well respected brand globally. At Reliance, we have always strongly believed
in the power of the Indian consumer market." In the first five-year phase, the JV plans to open at
least 50 stores across India with M&S' existing franchise partner Planet Retail, through which the
British company currently sells clothes. M&S chief executive Sir Stuart Rose said: "India is a
very exciting opportunity for M&S and a market where there is the potential for us to become a
major retail brand. Reliance Retail is the ideal partner for us to accelerate our expansion and
create the opportunity to open much bigger stores." The M&S move into India is the first step in
a major global expansion plan announced last year, mainly pinned around India and China. The
announcement is part of M&S' plans to grow its international business to 15-20 per cent of group
revenues within next five years. The new company will have Mark Ashman as its CEO and Jatin
Luthra as CFO.

Joint venture between Tata Motors and Fiat

As a result of the definitive agreement between TATA MOTORS and FIAT Auto, Concorde
Motors retails the full range of TATA and FIAT cars in India, including import cars like the
FIAT 500. Full backup in-terms of service and parts is also available. The agreement also means
that internationally acclaimed FIAT engines and gearboxes are now powering the 2nd generation
Tata cars such as the Indica VISTA. All Concorde locations (sales & service) have now been
upgraded in terms of infrastructure and ambience [external signage, internal design and layout]
to reflect the close working relationship between these 2 automotive giants

This definitive agreement on the 50-50 Industrial Joint Venture was signed between the 2
companies on October 19th 2007. This joint agreement calls mainly for the creation and
establishment of an industrial joint venture in India, located at the Fiat plant at Ranjangaon, in
the State of Maharashtra.

With capacities to produce in excess of 100,000 cars and 200,000 engines and transmissions
yearly, at steady state, the Ranjangaon plant will manufacture vehicles for the Indian and
overseas markets. Both Fiat and Tata vehicles will be manufactured at the same facility, which
will be managed equally by the two Shareholder Partners.

The engine manufacturing of FIAT envisages the highly acclaimed Fiat 1.3 litre multi-jet diesel
engine, the 1.4 litre and a new 1.2 litre gasoline engine, both of the 'Fire' family, and Fiat
transmissions.
FIAT Auto has in its portfolio Palio Stile, FIAT 500, Linea & Grande Punto in India. All the
FIAT Branded cars are being distributed by Tata through the Tata-FIAT dealer network across
the country. Therefore, the after sales & service for the FIAT cars also would be provided by the
wide service network of Tata Motors.

Manufacturing of Tata cars in the Joint venture will supplement the production capacities of Tata
cars while providing the best technology like the world class powertrains to the second
generation Tata Cars. The strategic industrial alliance between Tata Motors & FIAT has thus
opened a great scope & potential for a global exchange of technology in India.

 A little know-how of FIAT

One of the pioneer companies in the automobile industry, Fiat has produced more than 87
million passenger cars and light commercial vehicles, including no less than 400 models, since
1899, when the company was founded in Turin, Italy. Some of them have represented milestones
in the automotive industry. The Fiat Group's Automobiles Sector operates world-wide with the
following brands: Fiat, celebrated for value, economy, and innovation and whose mass produced
cars are distributed over almost the entire price class spectrum; Lancia (acquired in 1969) means
prestige cars noted for their elegant styling, and comfort; Alfa Romeo (acquired in 1986) is
famous as a maker of sport and luxury vehicles of style and distinction; Maserati (acquired in
1992) represents a landmark in the history of the automobile; Ferrari (acquired in 1969), well
renowned for unsurpassed design, performance, and luxury, is a legendary automobile that
imparts special cachet to its owner. FIAT Cars are known for its styling & impressive
performance.
 Joint venture between TATA and AIG

Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company, formed
by the Tata Group and American International Group, Inc. (AIG). Tata AIG Life combines the
Tata Group’s pre-eminent leadership position in India and AIG’s global presence as one of the
world’s leading international insurance and financial services organization. The Tata Group
holds 74 per cent stake in the insurance venture with AIG holding the balance 26 per cent. Tata
AIG Life provides insurance solutions to individuals and corporate. Tata AIG Life Insurance
Company was licensed to operate in India on February 12, 2001 and started operations on April
1, 2001.

THE TATA GROUP

Tata is a rapidly growing business group based in India with significant international operations.
Revenues in 2007-08 are USD 62.5 billion (around Rs. 251,543 crores), of which 61% was from
business outside India. The Group’s Net Profit for 2007-08 is USD 5.4 billion (around Rs.
21,578 crores). The Group employs around 350,000 people worldwide. The Tata name has been
respected in India for 140 years for its adherence to strong values and business ethics. The
business operations of the Tata Group currently encompass seven business sectors -
Communications and Information Technology, Engineering, Materials, Services, Energy,
Consumer Products and Chemicals. The Group's 28 publicly listed enterprises have a combined
market capitalization of around $60 billion, among the highest among Indian business houses,
and a shareholder base of 2.9 million. The major companies in the Group include Tata Steel,
Tata Motors, Tata Consultancy Services (TCS), Tata Power, Tata Chemicals, Tata Tea, Indian
Hotels, Tata Teleservices and Tata Communications

American International Group, Inc. (AIG)

American International Group, Inc. (AIG), a world leader in insurance and financial services, is
the leading international insurance organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional and individual customers through
the most extensive worldwide property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services, financial services and
asset management around the world. AIG's common stock is listed on the New York Stock
Exchange, as well as the stock exchanges in Ireland and Tokyo.

Joint venture between Bharti and Wal-Mart:

On November 27, 2006, Wal-Mart signed a MoU with Bharti for exploring the scope in India's
retail industry. This 50:50 joint venture would operate in areas in which government permits
foreign direct investment in retail like cash-and-carry and logistics. Together they would set up
hypermarkets, supermarkets and grocery stores. The Bharti-Wal-Mart group would not own any
real estate and would just pay lease rentals as anchor tenants for the space which they would take
for their stores. However, Wal-Mart may face competition from Reliance and also from
Pantaloons Retail India Ltd who are trying to gain a strong foothold in the country's retail sector.
Apart from competition, Wal-Mart is also facing problems from political parties. According to
them, Wal-Mart's back door entry in India would adversely affect the unorganized retail sector in
India.

On November 27, 2006, Wal-Mart Stores, Inc (Wal-Mart), the world's largest retailer, and Bharti
Enterprises Ltd. (Bharti), a leading business group in India, signed a Memorandum of
Understanding (MoU) to explore business opportunities in the Indian retail industry. This joint
venture marked the entry of Wal-Mart into the Indian retailing industry.

According to Sunil B. Mittal (Mittal), chairman and managing director, Bharti, "The joint
venture with equal stakes will operate in areas where the government allows foreign investment
in retail like cash-and-carry and logistics. The retail shops will be owned by Bharti Enterprises
under the Wal-Mart franchise. The idea is to give Indians the lowest price everyday
The joint venture with equal stakes will operate in areas where the government allows foreign
investment in retail like cash-and-carry and logistics. The retail shops will be owned by Bharti
Enterprises under the Wal-Mart franchise. The idea is to give Indians the lowest price everyday."

Many analysts opined that both the parties in the venture had their own strengths and would
complement each other. Viswanathan Vasudevan, an equity analyst at the Singapore-based
Aquarius Investment Advisors Pte, said, "It's a great fit for Wal-Mart as Bharti knows the rules
of the game and will save Wal-Mart a lot of time and energy to overcome the system.

For Bharti, you can't get a better partner than Wal-Mart in retail." Gajendra Nagpal, director,
Unicorn Investments, said, "This joint venture is a winning combination. Wal-Mart's logistics
skill and Bharti's execution capability will create a potent force in the Indian market."

This franchise strategy with Bharti was a deviation from Wal-Mart's usual way of entering
countries. This was because the policy restrictions on foreign direct investment (FDI) in the
Indian retail sector. As part of the agreement, Bharti was expected to pay a royalty between 2
percent and 3 percent of sales to Wal-Mart for using the latter's brand name. The Bharti-Wal-
Mart joint venture was expected to open its stores in India from August 2007.

Though the parties did not disclose the financials of the deal, according to retail industry sources,
the Bharti-Wal-Mart venture would make an initial investment of US$ 100 million, which could
further increase to US$ 1.46 billion. Wal-Mart had reportedly brought in two veteran executives,
Andy Guttery and Lance Rettig, to implement its operations in India under the joint venture.
Wal-Mart had also roped in Raj Jain, Emerging markets president & CEO, Wal-Mart, to head the
cash-and-carry business in India.

The retail industry in India is estimated at about US$ 300 billion and is expected to grow to US$
427 billion in 2010 and US$ 637 billion in 2015. Moreover, only 3 percent of the Indian retail
industry was in the organized sector. Foreign retailers were keen to enter India's rapidly growing
retail market. However, the government had permitted retailers of single brand products to own a
majority stake in a joint venture with a local partner (with prior government permission).
Retailers of multi-brands were only permitted to operate through franchises and licensees’, or a
cash-and-carry wholesale model.

The biggest competitor for Bharti-Wal-Mart was expected to be Reliance Retail, the retail wing
of Reliance, which had planned to establish 10,000 stores by 2010. It had already opened 11 pilot
stores under the "Reliance Fresh" format in Hyderabad.

Even Pantaloon Retail, the retail arm of the Future Group was expected to give stiff competition
as it had a first-mover advantage. Kishore Biyani, CEO, Future Group, said, "Our strength is that
we understand the Indian consumer better than Wal-Mart and we also have a window of
opportunity and the first-mover advantage. For instance, we will have 100 Big Bazaars across
India by the time the first store (of Bharati-Wal-Mart) opens its doors here."

A few other Indian retailers felt that the entry of foreign retail giants like Wal-Mart, Carrefour
SA and Tesco Plc (Tesco) would result in Indian retailers learning some of the best international
practices in retailing. However, analysts noted that the success of the joint venture would depend
on how successful Wal-Mart is in building a cost efficient supply chain and sourcing network so
that the cost savings are passed on the end consumer through its trademark "every day low price"
strategy.
 JOINT VENTURE
Submitted by: Umesh kolekar Ex 01

Joint venture between Sony and Ericsson:

Sony and Ericsson complete joint venture agreement

- Sony Ericsson Mobile Communications set to start operations on October 1 -

-Aiming for the world's leading position in mobile phones -

Sony Corporation and Telefonaktiebolaget LM Ericsson today announced that they have agreed
terms to merge their mobile phone businesses worldwide, subject to final approval of the Boards
of the two parent companies and subject to regulatory approvals.

The two companies which signed their Memorandum of Understanding in April are well on
schedule and set to establish the joint venture, Sony Ericsson Mobile Communications, as
planned on October 1, 2001. The joint venture's global management will be based in London
and, after necessary approvals, Sony and Ericsson will start to merge their respective operations.

Sony Ericsson Mobile Communications will begin its activity with global product, marketing
and sales operations and an initial workforce of 3,500 employees. On a pro-forma basis, the
combined mobile phone businesses achieved annual unit sales of approximately 50 million units
and sales of USD 7.2 billion last year.

About Ericsson
Ericsson is shaping the future of Mobile and Broadband Internet communications through its
continuous technology leadership. Providing innovative solutions in more than 140 countries,
Ericsson is helping to create the most powerful communication companies in the world.
About Sony Corporation
Sony Corporation is a leading manufacturer of audio, video, game, communications and
information technology products for the consumer and professional markets. With its music,
pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be a
leading personal broadband entertainment company in the world. Sony recorded consolidated
annual sales of nearly US$ 60 billion for the fiscal year ended March 31, 2001.

The two companies plan to establish the joint venture, Sony Ericsson Mobile
Communications, on Oct. 1, 2001. Final approval of the boards of the two parent companies is
still pending and the deal is also subject to regulatory approvals.

The joint venture's global management will be based in London, and the two companies
anticipate that it will take over all design, marketing and sales operations from its parents.
Ericsson and Sony said it will have an initial workforce of 3,500 employees.

Sony has said the joint venture will be capitalized at $500 million, and Ericsson has asserted it
will be profitable from the start. Combined, the two companies sold about 50 million cellular
phone units last year with pro forma profits of $7.2 billion.

According to reports, Sony Vice President Katsumi Ihara will serve as president of Sony
Ericsson Mobile Communications, while Jan Wareby, former head of consumer products for
Ericsson, will become executive vice president of the venture. The board will reportedly have
eight members -- four from each partner -- and will be chaired by Ericsson Chief Executive
Officer Kurt Hellstrom.
 Joint venture between Reliance Broadcast and CBS:

MUMBAI: The Anil Dhirubhai Ambani Group (ADAG) forayed into television broadcasting
Wednesday, setting up a joint venture with US media company CBS to launch general
entertainment channels in South Asia.

ADAG firm Reliance Broadcast Network (RBN), known so far as Reliance Media World,
formed a 50:50 joint venture, BIG CBS Networks Pvt. Ltd, with CBS Studios, a division of CBS,
to beam channels to India, Pakistan, Bangladesh, Nepal, Bhutan, Sri Lanka and the Maldives.

Both parties, however, refused to divulge the financials involved.

"The venture is more about the assets that both companies are bringing to the table," RBN Chief
Executive Tarun Katial told reporters, announcing the formation of Big CBS.

Earlier in the day, in a regulatory filing Reliance Media World said: "Reliance Broadcast
Network Limited has successfully completed its final negotiations with CBS Studios Inc, a
division of CBS Corporation, and executed the joint venture agreement in connection with
owning and operating, a portfolio of television channels."

To start with, Big CBS will launch three channels-- BIG CBS Spark, BIG CBS Love and BIG
CBS Prime. The channels are expected to be beamed in the October-December quarter.

BIG CBS Spark will be targeted at the youth, while BIG CBS Love will be aimed at women.
BIG CBS Prime will be a general entertainment channel, both companies said in a statement.

"The channels will be English entertainment channels, customized for the Indian market offering
audiences immediate access to new and current CBS programmes, including some of the most
popular television programmes in the world," the statement added.

According to a recent KPMG and FICCI report, the media and entertainment industry is likely to
grow at a rate of 12.5 percent annually, over the next five years and touch $20.09 billion by
2013.

Television was the largest segment of India's entertainment industry, with revenues of 257
billion rupees ($5.6 billion) in 2009.

"It (India) is the third largest television market in the world, the largest Indian speaking
population in the world, the economic power of the middle class, the youth demographic and
many, many more statistics that all substantiate the tremendous opportunity in India," said
Armando Nuñez, president of CBS Studios International.

Katial said the venture will also get some CBS show formats and localise their content for the
Indian audience.

BIG CBS will also look at setting up Hindi and regional language general entertainment channels
in the next phase of expansion.

At the Bombay Stock Exchange, the Reliance Media World scrip closed near the day's high of
Rs.81.45, up 4.96 percent from its previous close at Rs.77.60.
 Joint venture between Mahindra and Renault:

In February 2005, Mahindra & Mahindra and Renault decided to join forces to produce and
commercialize the Logan in India.

The joint venture is a 51:49 partnership between Mahindra & Mahindra

and Renault. The state-of-the-art Logan facility in Nashik offers a body shop, stamping shop, a
paint shop with a top quality pre-treatment and an assembly line specific for the Logan.

PRODUCTS- LOGAN

Logan was launched in India in 2007 with the concept to challenge the “price Value” equation
existing in the midsize car category. Soon it became one of the most successful car in the midsize
category and now is synonymous to comfort and performance. The Logan drives in loads of
refinement in comfort, style and technology. Built around the Renault’s famous Space
Optimization Design, it redefines space and luxury. With the widest backseat, maximum
legroom and 3 separate headrests, it makes sure even the third passenger enjoys the drive as
much. Logan is one of the safest drives on the road. It’s geared to protect you with a honeycomb
dashboard and the front unit that’s designed to resist even a head-on impact.

MAHINDRA & Mahindra Ltd (M&M) on Wednesday announced a 51:49 joint venture with
Renault, to produce and sell the latter's car, Logan, in India. Separately, discussions are on
between the two parties to sell M&M SUVs abroad through the French auto major's distribution
channel.

At a press briefing, Mr. Anand Mahindra, Vice-Chairman & Managing Director, M&M, said the
company's focus continues to be its SUV business; the arrangement with Renault is for a specific
product, due for rollout here in the first half of 2007. "This is a single product alliance for
making the Logan. That's it," said Mr. Alan Durante, Executive Director, M&M.
The Logan, an entry-level C segment car with its production hub currently in Romania (where
Renault owns local car-maker Dacia), is being primed for a global production figure of 600,000
units in the next two-three years.

In Asia, Iran is set to host a 300,000 unit-strong capacity for the car by 2006. It compares with
Mahindra-Renault's 50,000 units.

Asked, Dr Pawan Goenka, M&M's Chief Operating Officer (Automotive Sector), discounted the
regional impact of this Iranian capacity citing the development of the Logan's right-hand drive
model with Mahindra support in India, and hoped for export to the SAARC markets and South
Africa..

The Logan's multi-location manufacture (in Romania, Russia, Morocco, Columbia, Iran and
India) should help tackle the problem of a strong euro as production bases outside can be tapped
for component sourcing, Mr Bharat Doshi, Executive Director, M&M, said. The car is expected
to host 55-60 per cent local content within two years of launch. Renault will examine parts
distribution from India.

In Romania, the Logan costs 6000 Euros (around Rs 3.45 lakh), said Mr Luc Alexandre Menard,
Renault's Senior Vice-President (International Operations). No insight was offered on expected
petrol/diesel sales ratio here though the Logan currently sports only a petrol engine and India has
a growing diesel car market.

The Rs 700-crore joint venture (investment will be a mix of equity and debt) with M&M as
majority partner is different from its earlier a 50:50 partnership with Ford, Mr Mahindra said.
Ford India Ltd (FIL), where M&M's equity stake is now 15 per cent, had M&M participation
limited to HR and communication.

In the new venture, M&M will additionally handle finance and distribution. Renault will be
responsible for purchase, engineering and quality. The Indian company will have four board
members to Renault's three, the former appointing the managing director, the latter the non-
executive chairman. While Ford still has a 5 per cent equity stake in M&M, there is no proposal
for Renault to do a similar take.
The Logan will be manufactured for a fee at M&M's Nashik, Zaheerabad or Haridwar facility
and sold under the Mahindra-Renault brand. Similar clarity on branding for M&M vehicles
likely to sell through Renault's channels could not be had. "It is too early," Dr Goenka said when
asked if the channel being explored was that of Renault alone or the larger Renault-Nissan
groups.

Joint Venture between Bajaj and Allianz

Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between Allianz SE, one of the world's
largest insurance companies, and Bajaj Finserv. Allianz SE is a leading insurance corporation
globally and one of the largest asset managers in the world, that manage assets worth over a
Trillion. With over 115 years of financial experience, Allianz SE is present in over 70 countries
around the world. Bajaj Allianz is into both life insurance and general insurance. Today, Bajaj
Allianz is one of India's leading and fastest growing insurance companies. Currently, it has
presence in more than 550 locations with over 60,000 Insurance Consultants.

In June 2008, Bajaj Allianz entered into partnership with Thomas Cook India to provide travel
finance. Bajaj Allianz Life Insurance ensures excellent insurance and investment solutions by
offering customized products, supported by the best technology.
Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority
(IRDA) certificate of Registration on 2nd May, 2001 to conduct General Insurance business
(including Health Insurance business) in India. The Company has an authorized and paid up
capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by
Allianz, SE.

As on 31st March 2010, Bajaj Allianz General Insurance maintained its premier position in the
industry by achieving growth as well as profitability. The company garnered a premium income
of Rs. 2724 crore. Bajaj Allianz has made a profit before tax of Rs. 180 crore, an increase of
21% over the previous year and has become the only private insurer to cross the Rs.100 crore
mark in profit before tax in the last four years. The profit after tax was Rs. 121 crores, 27%
higher than the previous year, which is one of the highest by any private insurer.
Bajaj Allianz today has a countrywide network connected through the latest technology for quick
communication and response in over 200 towns spread across the length and breadth of the
country. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are
interconnected with the Head Office at Pune.
 JOINT VENTURE
Submitted by: Madhur Meshram Ex 04

1) Sigel & Co. and Manning J.

On July 11, 1979, Sigel & Co. and Manning J. Post entered into a joint venture agreement for the
purpose of acquiring, holding and selling parcels of real property located in Clark County,
Nevada. Under the joint venture, each party agreed to pay its proportionate share of all financial
obligations, including loans secured by the real property. Paragraph 8 of the agreement provided
that in the event a party failed to pay its pro rata share, the remaining party would be entitled to
make such payment and would have the option to purchase the defaulting party's interest in the
joint venture pursuant to a set formula. Paragraph 8 further provided that the rights and
obligations of the defaulting party under the joint venture would terminate upon purchase of the
defaulted share. The parties agreed to submit to arbitration any dispute as to the agreement and to
have judgment upon the arbitrators' award entered in any court having competent jurisdiction.
 2) Dynatec Corporation & Phelps Dodge Corporation
Dynatec Corporation (TSX: DY) today announced that it has signed a joint-venture agreement
with subsidiaries of Phelps Dodge Corporation to evaluate development of the Ambatovy
nickel laterite project in Madagascar. Ambatovy is a large tonnage project that could become one
of the world's lowest-cost nickel producers. According to Phelps Dodge's 2002 10-K report filed
with the U.S. Securities and Exchange Commission, Ambatovy contains an estimated 210
million tons of mineralized material containing 1.10 percent nickel and 0.10 percent cobalt. The
Ambatovy joint venture brings together Phelps Dodge, a leading global mining company with
extensive expertise in the development of large-scale, open-pit mining operations, with Dynatec,
a company with considerable mining and metallurgical expertise and a leading position in nickel
laterite processing. Under the agreement, Dynatec will be the operator at Ambatovy and will
have the right to earn a 53 percent interest in the project by funding approximately US$20
million of project costs, including expenditures for the bankable feasibility study and certain
other expenses, and by providing commercial licenses for the use of its metallurgical
technologies at the project. 

3) National Chemical Carriers Ltd. Co. “NCC” & Odfjell SE

National Chemical Carriers Ltd. Co. “NCC” (owned by The National Shipping Company of
Saudi Arabia “NSCSA” and SABIC with 80% and 20% partnership respectively) signed a 50/50
joint venture agreement with Odfjell SE on 15 June 2009 to establish operating company in
Dubai to commercially operate their combined fleet of coated (IMO 2/3) chemical tankers of
40,000 DWT and above in a pool for trading in the chemicals, vegetable oils and clean petroleum
products markets on a world-wide basis with emphasis on the growing production and export of
the Arabian Gulf region.
The new company will start its operation early next year with 15 vessels and total dwt capacity
of nearly 660,000 tons, which will grow to 31 vessels and total dwt of nearly 1.4 million tons
over the next three years.
The agreement was signed by NCC Chairman Mr Essam Al-Mubarak and Mr Jan Hammer,
President & CEO of Odfjell SE.

4) MPM Technologies Inc. (MPM) and Losonoco Inc.

MPM Technologies Inc. (MPM) and Losonoco Inc. have formed a new joint venture company,
Losonoco Syngas, LLC, to develop biofuel and chemical manufacturing facilities based on the
Syngas waste gasification process.

MPM is an environmental engineering company that has done extensive development work on
the Syngas plasma arc gasification process and owns the worldwide rights to the technology.
Losonoco builds, owns and operates manufacturing facilities for ethanol and biodiesel and
focuses on commercializing technologies that use waste streams as feedstock for the biofuels.

In particular, Losonoco is acquiring and re-commissioning a shuttered corn ethanol facility in

Florida, which it intends to bring back into production and to use as a platform to build an
integrated biomass-to-ethanol facility base on the Syngas gasification process.

Losonoco Syngas is proposing the construction of a 125-ton per day biomass gasifier co-located
and integrated with the corn ethanol facility in Florida. In the first phase,  the syngas will replace
natural gas used in the ethanol production process. In a second phase, the syngas will be used to
manufacture ethanol via catalytic conversion.

The core of the process is the Syngas gasifier which converts the feedstock at moisture contents
of up to 55% to a synthesis gas high in carbon monoxide and hydrogen. Utilizing different
catalytic processes, the syngas can be converted into ethanol, methanol, DME and diesel, or it
can be used to manufacture ammonia or to generate electricity.

The Skygas reactor operates at lower temperatures than other plasma arc gasifier, and consumes
less power, according to MPM.

MPM acquired Skygas Technology in 1986, and several pilot and demonstration plants were
built in the late 1980s and early 1990s.

MPM is transferring ownership to the joint venture of the world-wide licenses for the Syngas
gasification technology together with all engineering, operational and other data and intellectual
property that it owns and developed through its former joint venture agreement with Smogless
S.p.A.

Losonoco Inc. will fund the further development of the technology and the construction of the
125-ton per day gasification plant in Florida. The initial membership interests in the joint venture
will be 75% MPM Technologies Inc. and 25% Losonoco Inc. This will move to a 50:50
ownership once the development work is completed.
Losonoco Skygas, LLC will further seek appropriate alliances with industrial partners for the
development of processes for the manufacture of ethanol, methanol, DME, diesel and ammonia
and for the production of electricity in those markets where electricity from biomass or waste
carries a high premium value.

5) Advanced Information Services NJ, with a software company

Tom Salzer of the consulting firm Advanced Information Services, in Marlboro, NJ, considered a
joint venture with a software company looking to sell its newest release. Salzer saw how his firm
could help in selling the product, and how landing major sales contracts could bring more money
to the software company by way of venture capitalists.

But, in examining the deal further, Salzer realized he needed more financial stake in the
arrangement and that if the joint venture was only to market and sell the other company's
software, a joint venture was not the best arrangement.

"The benefit to me was having equity participation in this particular product," Salzer said. "But I
didn't want to have it where I was reselling their product or acting as a partner because, in
essence, I would be driving sales opportunities and creating value to their company and less
value to ours."
 JOINT VENTURE
Submitted by: Pratik Kharat, P:

1) Germany and China sign for joint venture

BEIJING — The German engineering companies Siemens and ThyssenKrupp will supply
technology to China for a second magnetic-levitation train - a €4.3 billion high-speed link
between Shanghai and the nearby city of Hangzhou - state media reported Tuesday.

The announcement of the deal worth $5.5 billion came as Chancellor Angela Merkel of Germany
was visiting Shanghai, where she rode the world's first commercial magnetic-levitation, or
maglev, line, which carries passengers between international airport in Pudong and the financial
district at speeds of as much as 430 kilometers, or 267 miles, per hour.

Transrapid International, a joint venture between Siemens and ThyssenKrupp, designed and built
the $1 billion Pudong line, which entered service in 2004.

The 200-kilometer line to Hangzhou was approved by the Chinese government in March and is
scheduled to be in operation by 2010, the official Xinhua news agency reported. There was a
heavy emphasis on Chinese-German trade and business ties during Merkel's two-day visit to
China that ended Tuesday.

Siemens would transfer technology for manufacturing power supply and operational systems,
and ThyssenKrupp would contribute technology for the carriages, switches and other systems.
Maglev transportation, in which trains travel above the track on a frictionless electromagnetic
cushion, has become a technological showpiece for China as it spends heavily to expand its vast
rail network.

The Chinese Railways Ministry plans to add 10,000 kilometers of passenger lines and 2,000
kilometers of high-speed links to its rail network by 2020 to overcome bottlenecks that have
hampered economic development.

The second maglev link, capable of speeds of 450 kilometers per hour, would cover the distance
between the two cities in 30 minutes, a journey that now takes 140 minutes by rail, state media
reported when the project received government approval.

The 30-kilometer Pudong maglev track cost $38 million per kilometer, according to reports in
the official media. Beijing ruled out maglev technology for a high-speed rail link between
Beijing and Shanghai that is also scheduled to begin operation in 2010. The 1,320-kilometer line
is expected to cost as much as $12 billion and to cut the rail time between China's two most
important cities to 5 hours from 14 hours.

2) Schenker and Siemens set up joint venture for contract logistics

Essen / Frankfurt am Main / Munich, 12/16/2003 - Schenker Industrial Logistics GmbH pools
the warehouse management activities of Schenker and Siemens in the field of spare parts,
promotional material and production logistics. Schenker AG holds a 51 percent stake in the new
joint venture, with Siemens AG holding the remaining 49 percent. The new company has about
300 employees, 175 of whom have been taken on from Siemens, at 17 locations in Germany and
starts its operations in the market with a business volume of around 30 million euros.

The aim of the joint venture is to pool the warehouse management activities of Siemens and
Schenker in the field of spare parts, promotional material and production logistics and to increase
business volume through the acquisition of new customers

The main tasks of the joint venture include the operation of various spare parts supply depots, the
control of in-house logistics processes, the supply of spare parts to service technicians all over
Germany, and the worldwide distribution of media products such as calendars and printed matter
or promotional materials. The joint venture combines the specialist expertise of Schenker in the
freight forwarding and contract logistics business with Siemens' industrial process know-how in
the product, system and project business.

To signal the start-up of the joint venture, Siemens Procurement & Logistics Services (SPLS)
and Schenker have transferred a total of 17 spare parts depots, logistics centers and warehouses
for contract logistics agreements to the new company. This means that the joint venture has
access to a network covering the whole of Germany and can build on existing customer
relationships with companies like Siemens, Infineon, Fujitsu Siemens Computers,
DaimlerChrysler and ThyssenKrupp.
The joint venture is still subject to approval according to § 65 BHO by the Federal Ministry of
Finances. With annual sales of 6.5 billion euros, 36,000 employees and about 1,100 offices
around the world, the Stinnes subsidiary Schenker is one of the world's leading providers of
integrated logistics services, offering land transport, air and sea freight as well as comprehensive
logistics solutions and global supply chain management from a single source.

3) French car maker Renault has a joint venture with M&M

French car maker Renault has a joint venture with M&M, which makes the entry-level Logan
sedan. Renault has 49 per cent in the venture.

Renault is also working with Bajaj Auto, along with Nissan to develop a small car, although no
joint venture agreement has been signed so far. It also has a partnership with Ashok Leyland
through Nissan for light commercial vehicles in India.

Talking to the Press Trust of India on the sidelines of the Tokyo Motor Show, Ghosn said if
things did not work out, it can sever ties and may even drive in its new products in India with a
different partner.

Logan has failed to live up to expectations and sales have been falling steadily. In September
alone, 510 units of the car were sold against 1,752 units in the same month last year. In the first
six months of this year, the joint venture sold just 2,901 units of Logan compared to 9,217 units
in the same period last year.

According to Mahindra & Mahindra’s annual report, the joint venture company — Mahindra
Renault — posted a loss of Rs 490 crore in the last financial year. Low demand for the car has
forced Renault to scrap plans to make the engines locally.

Ghosn added the failure of Logan was because “it is more expensive than we hoped it would be
in India, the market here is extremely sensitive to the price”. The other reason, he added, was
that “we don’t have enough localization in India”.

Renault is learning from its current experiences in India and “we are going to come with a
second wave of products”, he said, without specifying details.

Mahindra was the first to express dissatisfaction over the working of both Renault and Nissan
when it exited a planned three-way venture in January last year. Renault-Nissan, however, went
ahead and set up a mega car plant with capacity of 400,000 units in Chennai.
4) Conair joint venture with Nu-Vu in India building new plant

June 2007

AHMEDABAD, INDIA (June 16, 3 p.m. ET) -- Nu-Vu Conair Pvt. Ltd., Conair Group Inc.’s
joint venture company in India, has started to build a larger plant, doubling its manufacturing
space to keep pace with the fast-growing Indian plastics industry.

The 35,000-square-foot auxiliary equipment factory should begin operations in March 2010.

“Our business in India has been very successful since we formed the joint venture less than three
years ago,” said Larry Doyle, Conair’s vice president of global sales and marketing. “Domestic
consumption in India has been fuelling very robust growth in India, despite the global slump that
recently has affected most of the rest of the world.”

Doyle said all market segments are growing. “But packaging has played the most significant
role,” he said.

Conair formed the joint venture in 2007 with Indian auxiliary maker Nu-Vu Engineering, in a
plant in Ahmedabad. The new factory will be located in a new industrial park near the current
15,000-square-foot plant.

Conair, based in Cranberry Township, Pa., designed the building in India for more efficient flow
of work to assemble auxiliary equipment. Officials declined to say the amount of the investment.

Nu-Vu Conair makes equipment based in Conair designs, including desiccant-wheel dryers and
EarthSmart portable chillers. It also makes all existing Nu-Vu equipment.
Doyle said the larger manufacturing space will allow Nu-Vu Conair to expand its production and
add new products.A May 21 groundbreaking ceremony included a traditional Hindu Bhoomi
Puja ceremony performed to ensure the energy and natural elements surrounding the site are
propitious. The ceremony is held in strict conformance to Vaastu Shastra, the ancient Indian
science of structures and architecture.

5) Visa & Monitise To Launch Mobile Payments Joint Venture In

India
More action on the mobile payments front: Visa has announced plans to launch a joint venture
with LSE listed Monitise for the Indian market. The companies will provide a technology
platform for financial institutions and mobile network operators in India, to offer services such as
banking, bill payments, mass transit ticketing, mobile top-up and others to consumers.

According to Visa, the joint venture transaction is expected to close in June 2010, and while the
shareholding has not been specified, both parties will contribute resources to the venture. The
company says that discussions “with a wide variety of potential launch partners are well
underway.” If you know who, leave a comment.

Visa brings in the ability to enable secure and globally inter-operable financial transactions, as
well as strong relationships with banks, while Monitise will be the technology provider, for
handsets for applications. Monitise serves over 200 banks and financial institutions in the UK
and US, and has two million registered users.

Why has Visa tied up with Monitise, and not an Indian partner? Well one reason could be that
Visa owns a minority stake in Monitise. Remember that Visa had first inked a partnership in
India with MChek, which recently received funding for a project it is doing with Tata Indicom in
India.