Thursday 31 May 2012

ENERGY PERFORMANCE STANDARDS FOR AIR CONDITIONERS COMPREHENSIVELY UPGRADED IN INDIA


ENERGY PERFORMANCE STANDARDS FOR AIR CONDITIONERS COMPREHENSIVELY UPGRADED IN INDIA

  • Standards now at 8% higher efficiency for star-rating on split 1.5 ton  ACs and higher
  •  Mobile-based application launched to help consumers calculate energy consumption
  • Technological improvements driving higher energy efficiency in the HVAC industry

The Bureau of Energy Efficiency (BEE), a statutory body under the Union Ministry of Power, has upgraded the requirements for star rating of split type room air-conditioners. This regulation, which came into effect in January this year and raised the energy efficiency standards by about 8% for split air-conditioners for the same rating band, is intended to help raise consumer awareness on saving energy and creating more energy efficient appliances across the spectrum for this industry. This initiative, launched in 2010, is especially relevant in view of the upcoming freeze on Hydro-chlorofloro-carbons (HCFC) under the Montreal Compact on Environment (Montreal Protocol) in 2013 and the effort of getting prepared for future GWP (Global Warming Potential) legislation without any energy penalty. For the Indian industry, this marks a substantive step forward in not only averring to the rising awareness and readiness on the policy side to taking control of the most pertinent energy efficiency issues, but also marks a firm movement towards a healthy public-private partnership in the area of energy reforms.
BEE recognizes that consumer awareness and education have been instrumental in the success of energy efficiency movement thus far. To further empower consumers, a mobile-phone based application called “AC Power Saver” has been developed that enables consumers to calculate energy consumption and savings right on their mobile devices. This application will be available for Android, Blackberry and iPhone users free of charge. These tools will help consumers calculate the expected annual electricity bills and the potential savings. Users can get an idea about their savings on their electricity bills if they buy higher star rating air conditioners. For a wider reach, a dedicated web site – www.SaveEnergy.co.in – has been created with all necessary information including the energy calculator.
The campaign to educate consumers comprises several strategic initiatives. Air conditioner showroom salesmen are being trained and oriented on the star labeling criterion so that they can explain to consumers the tangible benefits of using energy efficient air conditioners. BEE has already trained 1,544 salesmen in India across 6 cities and plans to continue with this effort. These trained salesmen help consumers make an informed choice with respect to energy efficiency while buying home air conditioners.
Speaking on the occasion, Dr. Ajay Mathur, Director General, BEE said, “Energy is critical for India, and the demand for clean and efficient energy devices is growing rapidly. We are happy that our initial steps in introducing star labeling for air-conditioners has borne such good results. It is our resolve to further augment this initiative by reaching out to as wide a section of consumers as possible and to do this we have embarked on a variety on new measures to educate and engage the public at large as well as the manufacturers and retailers.”
Emerson Climate Technologies, an engineering technology innovator, has been actively collaborating with BEE to build awareness of the star rating program. According to Mr. Deepak Takkar, Sr. Vice President – Sales & General Manager – Cold Chain, Emerson Climate Technologies (India) Pvt. Ltd., “Research shows that every watt of energy saved at consumption results in four watts less energy produced, factoring in the generation and T&D losses. The adoption of star rating in air-conditioners significantly supports energy conservation and improvement of power efficiencies in India”. He added, “The industry plays a key role in augmenting the success of Government’s thrust on environmental protection. In the air-conditioning industry, on the manufacturers’ side, we have introduced Copeland Scroll™ compressors in the Indian residential AC market for the first time to provide optimum energy savings and comply with the highest star rating. Copeland Scroll™ technology has been extremely successful in the commercial and residential segments around the world for many years. We believe that with the focus on empowering consumers with efficient and reliable technologies like Copeland Scroll™, and awareness tools like the ‘AC Power Saver’ mobile app, India stands to greatly improve the energy situation and bridging the supply-and-demand gap.”
According to Mr. SanjeevRanjan, CEO, International Copper Promotion Council (India), “ICPCI has been quite actively engaged since 2007 with the Air Conditioner Industry by promoting the life cycle cost as the main attribute to drive consumer purchase decisions. Copper’s better thermal  and electrical properties do help in improving energy efficiency performance of air conditioners, which in turn helps achieve higher star rating more cost effectively. ICPCI as a part of Copper Alliance, led by International Copper Association is working for technology advancement by focusing on reducing the material cost of energy efficient air conditioners through the introduction of smaller diameter copper tubes for heat exchanger. Today, with the launch of the upgraded star-rating labeling program, Indian consumers can now buy air conditioners that save energy and money. We do appreciate the admirable work done by BEE and will continue to support it in its endeavor to promote and implement the star labeling program across the country.”

The star labeling program for air-conditioners, frost free refrigerators, tubular florescent lights, and distribution transformers began in May 2006 in a voluntary phase. In the air conditioner segment, 70% of the organized players adopted it in the voluntary stage, which prompted BEE to make it mandatory from 7th January 2010. Since star labeling was a new concept for appliance showrooms and end users, BEE partnered with Emerson Climate Technologies and International Copper Promotion Council (India) in 2008 to start several initiatives to educate the market on the benefits of star labeling. Training sessions were conducted for store salesmen throughout India. After the education program, a survey was conducted across 19 cities covering over 1,200 salesmen and 400 users to understand their perception on star labeling. The survey results showed that end users cared about energy efficiency, price and brand. The survey also indicated that salesmen needed more education and sales tools to explain to the end user the concept of payback period.

About BEE:The Government of India set up Bureau of Energy Efficiency (BEE) on March 1, 2002 under the provisions of the Energy Conservation Act, 2001. The mission of the Bureau of Energy Efficiency is to assist in developing policies and strategies with a thrust on self-regulation and market principles, within the overall framework of the Energy Conservation Act, 2001 with the primary objective of reducing energy intensity of the Indian economy. This will be achieved with active participation of all stakeholders, resulting in accelerated and sustained adoption of energy efficiency in all sectors.

About Emerson Climate Technologies: Emerson Climate Technologies, a business of Emerson, is the world’s leading provider of heating, air conditioning and refrigeration solutions for residential, industrial and commercial applications. The group combines best-in-class technology with proven engineering, design, distribution, educational and monitoring services to provide customized, integrated climate-control solutions for customers worldwide. Emerson Climate Technologies’ innovative solutions, which include industry-leading brands such as Copeland Scroll and White-Rodgers, improve human comfort, safeguard food and protect the environment. For more information, visit EmersonClimate.com.
About International Copper Promotion Council (India): The International Copper Promotion Council (India), member of Copper Alliance. It is the Indian arm of the International Copper Association, the leading not-for-profit organization for the promotion and defence of copper globally. ICPCI is driven by the same objective as that of its parent organisation, which is to ‘defend and grow markets for copper based on its superior technical performance and its contribution to a higher quality of life worldwide’. ICPCI contributes mainly through its catalytic role, accelerating changes and transforming the long-term markets for Copper in a sustainable way through its major initiatives like Building Construction and Sustainable Electrical Energy. ICPCI’s activities focus on helping end users to better understand and appreciate the positive attributes of copper.

Friday 25 May 2012

TITAGARH WAGONS SIGNS AGREEMENT WITH GATX,


TITAGARH WAGONS SIGNS AGREEMENT WITH GATX, ONE OF THE WORLD’S LARGEST WAGON LEASING COMPANIES
-BECOMES THE FIRST BENEFICIARY OF WAGON LEASING SCHEME OF INDIAN RAILWAYS
Titagarh Wagons Limited and GATX India Private Limited (“GIPL”), a subsidiary of GATX Corporation (NYSE: GMT), signed an agreement for the supply of 10 rakes of BLC wagons to the latter under the wagon leasing scheme introduced by Indian Railways.

GIPL earlier this month signed an agreement with Indian Railways to become the first wagon leasing company under the Wagon Leasing Scheme in India. Under this scheme, GIPL plans to purchase wagons and lease them out to various customers in private and public sector.

Commenting on this development, Managing Director and Country Head of GIPL, Mr. Saurabh Sood, said “We have large plans for India and we have chosen to enter the market with this wagon purchase from Titagarh. GIPL looks forward to working with Titagarh to develop new designs for the Indian rail market.

Commenting on the same, Mr Umesh Chowdhary, Vice Chairman & Managing Director of Titagarh Wagons said, “We are indeed honoured to have been chosen as a wagon supplier by GIPL. GATX is one of the world’s largest lessors of wagons and we are sure that they would have significant presence in India as well.”


About GATX India Private Limited:  GATX India Private Limited (“GIPL”), established as a subsidiary of GATX Corporation in 2010, provides rail wagon lease financing and related services.  GIPL intends to be the leader in leasing of rail wagons in India.  Leveraging over a century of operating experience and strong market and asset expertise in North America and Europe, GIPL will continue the tradition of providing quality assets and services to customers in India.

About GATX Corporation:  GATX Corporation (NYSE:GMT) strives to be recognized as the finest railcar leasing company in the world by its customers, its shareholders, its employees and the communities where it operates.  Controlling one of the largest railcar fleets in the world, GATX has been providing quality railcars and services to its customers for 114 years.  GATX has been headquartered in Chicago, Illinois since its founding in 1898 and has traded on the New York Stock Exchange since 1916.  For more information, visit the Company’s website at www.gatx.com.

About Titagarh Wagons Ltd.: Incorporated in 1997-98, Titagarh Wagons Ltd. is one of the leading private sector Wagon manufacturers in India. The Company is engaged in the business of manufacturing Railway Wagons, EMUs (Coaches), Bailey Bridges, Heavy Earth Moving and Mining Equipment,Steel and SG iron castings of moderate to complex configuration etc. As an “Industry Partner” to the Defence Research and Development Establishment, Ministry of Defence, it also manufactures other products for the Indian Defence establishment, such as special wagons, shelters and other engineering equipments.




Wednesday 23 May 2012

IFGL Refractories achieve high level of performance


IFGL Refractories achieve high level of performance

Kolkata, 19th May, 2012 - The Board of Directors of IFGL Refractories Ltd today approved Audited financial results both on stand alone and consolidated basis for financial year 2011-2012.
Rs. in millions

Financial Year
Variance

2011-12
2010-11
Amount
%
Consolidated




Total Income         
6,065
4,758
1307
27.47
Profit before Tax
582
327
255
77.98
Profit after Tax  and Minority Interest
399
243
156
64.20
EPS
11.28
6.87
4.41
64.19
Stand-alone




Total Income
2,772
2,111
661
31.31
Profit before Tax
262
110
152
138.18
Profit after Tax
174
74
100
135.14
EPS
4.79
1.99
2.80
140.70


Several measures to enhance overall operational efficiency were taken and above performance aptly shows results there from.

Keeping in view the Company’s Dividend Policy, the Directors are pleased to recommend payment of following Dividend for financial year 2011-12.

a)      5% on Preference Shares, i.e. Rs 5/- per Preference Share of ` 100/- each.
b)   15% on Equity Shares   i.e. Rs 1.50  per Equity Share of ` 10/- each as against 5% for preceding financial year.

Detailed financial results have been e.mailed to Bombay Stock Exchange Limited and National Stock Exchange of India Limited and are also available on the Company’s Website: www.ifglref.com.

Other significant details for financial year 2011-12 are the following:-

a)      Production of Ceramic Filters for foundries as per know how of Hofmann Ceramic GmbH, Germany at Company’s manufacturing facilities at Kalunga (India) has been stabilized and the Company is also manufacturing Big Filters thereat.
b)      Recognized for exports and received CAPEXIL’s Award for 9th consecutive time for financial year 2010-11.
c)      Exports effected (including indirect) aggregated to Rs 1443 million.
d)     About 58 % and 47% of Total Income and Profit before Tax respectively on consolidated basis are from overseas subsidiaries.
e)      IFGL Exports Ltd., (IEL) has become subsidiary of the Company on and from 30th March, 2012. The Company hold 51% of total equity Share Capital thereof. IEL is engaged in manufacture of ISO Products ie Continuous Casting Refractories and facilities are situated at new area of Kandla Special Economic Zone ie on western coast of India and commercial production has been started from 1st May, 2012. This facility provide additional capacity of about 25% to the Company with an option to double without incurring major capital expenditure.
The Directors continue to be optimistic about future of Iron and Steel Industry both in India and abroad and envisage that going forward the thrust will be on ‘Clean Metal’ and thus the demand for specialized refractories and operating systems produced by the Company will be persisting. Hence future outlook of the company is bright barring unforeseen circumstances.

About  IFGL Refractories:
IFGL Refractories is a leading manufacturer of specialized Refractories having manufacturing facilities in Brazil, China, Germany, India, UK and USA. Krosaki Harima Corporation (a subsidiary of Nippon Steel Corporation, Japan) is the technology provider. Equity Shares are listed both on Bombay Stock Exchange Limited and National Stock Exchange of India Limited. For more information about IFGL Refractories, please visit www.ifglref.in

Mirage Art Gallery donates a painting to St. Stephen School



Mirage Art Gallery donates a painting to St. Stephen School

Kolkata, 18th May, 2012: Mirage Art Gallery donated one of its paintings to St. Stephen School (Bowbazar), an English Medium Co-educational School located in Central Kolkata on the occasion of an Art and Craft Exhibition. The painting was received by the Hony.. Secretary of St. Stephen School (Bowbazar), Mr. Imran Zaki along with Mr. Dean R Thompson, US Consul General and Mrs Jane Thompson, the chief guests for the exhibition.The exhibition also witnessed the presence of the Principal of La Martiniere for Girls, Lorraine Mirza, who was the Guest of Honor.
The painting donated to the school bears the concept of the incessant amalgamation of the various contradictory ideas and thoughts which forms an integral part of our subconscious self and its consequence. This spiritual awakening creates a conflict in the sub-conscious or , after awakening of the super-conscious mind, it gets related to the subconscious thereby creating a conflict in the conscious mind. In this painting, the artist has tried to portray this perplexed state of the mind under immense pressure resulting from self-contradictory ideas in the sub-conscious, conscious and super-conscious mind.
The objective behind donating the painting to the concerned school was to display a good will gesture by the gallery and to motivate the students by inspiring their creative instincts and induce them to develop an eye for art. Hence, Mirage Art Gallery hastried to represent the deep rooted passion for art and its admirers, which according to them, is an integral part of their social and creative responsibility.
About Mirage Art Gallery:
Mirage Art Gallery, located at 701 Block P, 1st Floor, New Alipore, Kolkata 700 053, looks at art with an open mind and is desirous to inspire artists and art lovers from all walks of life. It highlights the goal of art, which is to communicate the tangible, that which eludes normal seeing and resists the standardization resulting from perceptions dulled by everyday monotony. The fundamental thought behind the gallery is to discover, appreciate and encourage young artists by recognizing their work and providing a platform to display their talents.

Art & Craft Exhibition held by Mirage Art Galley at St.Stephens School

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