Plantbee Blog | Industry News

Tata Metaliks shelves ₹15,000-cr integrated steel plant in Karnataka

undefined

BENGALURU, MARCH 22: Tata Metaliks has informed the Karnataka government that it cannot implement its ₹15,000 crore 3-mtpa integrated steel plant at Haveri and because of non-availability of mines and iron ore.

“The company has informed the State government that the project cannot be implemented and has requested for refund of the amount paid for allotment of land,” RV Deshpande, Minister for Large and Medium Industries, told the Karnataka Legislative Assembly.

The Minister replying to a question by MLA from Haveri, Basavaraj Nilappa Shivannavar, on the status of Tata Metaliks project said the Supreme Court’s decision to allot mines only through auction and priority be given to state-owned enterprises in allotment of mines.

This is the reason given by the Minister for non-allotment of iron ore mines to the company.

Based on these developments, “the company on October 10, 2016, informed the government that the project has become unviable because of non-availability of mines and iron ore,” explained Deshpande.

Clearance, acreage

For Tata Metaliks, the Karnataka government had acquired 2,500 acres at various villages of Haveri taluk and the integrated steel plant was approved by the State High Level Clearance Committee (SHLCC).

Deshpande said after SHLCC clearance, the State government went about acquiring land through KIADB.

About 1,658 acres in Boodugatti and Agadi villages; and 608 acres in Devagiri and Devagiriyallapura villages totalling 2,266 acres were notified for acquisition.

Shivannavar requested the State government to take a suitable decision early and compensate the farmers who are waiting for nearly seven years.

“The decision to return the land will be taken after due examination by the government based on request of the company. We will again go to the SHLCC to take a suitable decision,” said Deshpande.

Source: thehindubusinessline.com

First Solar may sell about 200MW of assets in India

undefined

Mumbai: American solar panel maker First Solar is exploring the sale of almost 190-200 megawatts (MW) of its solar power assets in India, two people aware of the development said.

First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems and has supplied solar panels worth over 17 gigawatts (GW), globally, according to the company’s website.

“First Solar India has been contemplating to monetize its solar power assets of around 190-200 MW and they are in the market, talking to various buyers, both strategic and financial,” said one of the two people cited above, requesting anonymity, as the talks are private.

A sale, if it goes through, could fetch around $200 million, (approximately Rs1,300 crore) in terms of enterprise valuation, he added.

“For First Solar, making solar panels is the main business globally and that is the focus area for them. Hence, they will look to monetize the assets that they build, as and when there is opportunity, given that the strategy is not to hold on to these assets for long periods of time,” said the second person cited above, also requesting anonymity.

A spokesperson for First Solar India declined to comment, stating the company does not comment on market rumours or speculation.

“First Solar continues to evaluate participating in the upcoming solar capacity auctions both at the central and state level to create utility scale PV assets using a combination of its strong balance sheet and its proven CdTe thin film module technology that has demonstrated a yield advantage of 6-9% over poly crystalline silicon module technologies in Indian conditions. India is one of the company’s key global markets, where we would continue to leverage upon our incumbent position to create further growth,” the spokesperson said in an email response.

First Solar India has a total portfolio of around 260 MW, located in Andhra Pradesh and Telangana. In India, the solar panel maker has supplied over 1GW worth of panels.

As part of its strategy, First Solar has developed and sold solar power assets in other geographies. According to the company’s website, in August it sold 11 MW solar plant in California, to D.E. Shaw Renewable Investments Llc.

Merger and acquisition (M&A) activity has been rising in the Indian renewable energy sector.

Earlier this month, renewable energy firm Inox Renewables Ltd said it had agreed to sell its operating wind power farms of 260 MW capacity to Chennai-based wind power company Leap Green Energy Pvt. Ltd.

Last month, renewable energy firm Orient Green Power Co. Ltd said that it was evaluating a merger of its wind power business with IL&FS Wind Energy. The merger of the wind assets of the two firms will create a company with 1.2 GW assets.

On 14 March, Mint reported that Greenko Group is looking to acquire hydro and wind power producer Bhoruka Power Corp. Ltd’s renewable energy portfolio of 310 MW.

In 2016, the sector had witnessed major M&A transactions such as Tata Power’s renewable arm acquiring Welspun’s 1.1 GW of renewable assets worth $1.4 billion and Greenko acquiring SunEdison’s India portfolio.

Source: livemint.com

M&A Conference and Investors Meet 2017 in Mumbai

TMC, CPI(M) oppose sale of PSUs

undefined

NEW DELHI: TMC and CPI(M) today opposed the sale of India's first pharma company Bengal Chemicals and Pharmaceuticals Ltd and Alloy Steel Ltd, saying it will lead to job losses.

Amid slogan shouting by Congress over the issue of conduct of the Goa Governor in inviting BJP to form government after reportedly holding consultations with Finance Minister Arun Jaitley, Sukhendu Sekhar Roy (TMC) raised the issue of proposed sale of BCPL while Ritabrata Banerjee (CPI-M) opposed sale of Alloy Steel.

Roy said BCPL was set up in April 1901 and was the only unit to manufacture anti-venom serum. It made a profit of Rs 1 crore last year and any strategic sale will lead to loss of jobs of thousands of workers. He asked government to review its decision.

Banerjee raised the issue of planned outright sale of state-owned SAIL's three special steel units, including Alloy Steel Plant.

He sought stoppage of the strategic disinvestment of Alloy Steel saying it would lead to job losses and add to the industrial distress in Durgapur where several industrial units have closed down.

Source: economictimes.indiatimes.com

GOI Validates Strategic Divestment Route to Unburden Losses – SAIL to Sell 3 Steel Plants

undefined

As we write and speak of steel slowdown, protection measures for the steel industry and of consolidations, Mergers & Acquisitions to cut losses, the GOI has announced strategic divestment of 3 steel plants of the Maharatna PSU SAIL. The government has approved sale of state-owned SAIL’s 3 special steel units viz Alloy Steels Plant (ASP), Salem Steel Plant (SSP) and Visvesvaraya Iron and Steel Plant (VISP).

The move underpins SAIL’s need for strategic divestment to cut losses. The government has budgeted to raise INR 15,000 crore from strategic disinvestment in 2017-18. The sale of these three units is likely to happen only in the next financial year beginning April.

In the run-up to the sale, SAIL has sought for advisors for transaction from professional consulting firms, investment bankers and financial institutions to provide advisory services and manage the disinvestment process.

“The government of India has ‘in-principle’ decided for strategic disinvestment of ASP, SSP and VISP of Steel Authority of India Ltd with transfer of management control,” SAIL said in the request for proposal (RFP) for appointing advisors.

The role of the transaction advisor will be crucial to the sale. The advisory firm will chart out the modalities of the disinvestment process of the three steel plants and prepare a detailed operational scheme to successfully implement the process, indicating tentative timelines for each activity.

Whether the sale will be carried out via bidding or auction will be decided by the advisory firm. The valuation of the plants will be carried out and the advisor will help SAIL in fixing the range of the fair reserve price thereafter. The reserve price will be based on valuation methods like discounted cash flow, relative valuation, and asset based valuation.

The government’s decision to divest the largest steel PSU comes at a time when steel industry losses are heavy and steelmakers are looking for various fund raising routes. Strategic divestment of an asset is one of such routes. Meanwhile, debt financing, equity based fund infusion are other routes to raise funds.

Source: events.steelmintgroup.com

M&A in Steel Sector

undefined

Steel Industry in India, one of the fastest growing steel producing nations, is experiencing “stress” for some time due to rising imports, higher input costs and subdued demand. The big players with annual production capacity of a million plus tonne have not been affected much; it is the mid and smaller size manufacturers who have been hit worst. As on September 2016, the steel industry’s total exposure to banks stood at INR 3.1 trillion of which, INR 1.5 trillion is stressed out, INR 1.15 trillion out of that has been declared as NPA.

undefined

Big and established players like Monnet Ispat and Uttam Galva are already in advanced negotiations for possible takeover by cash rich funds and by companies which find the present scenario opportune for consolidation. The mid size and small time players are still in a fix whether to stay put or to exit. If they decided to stay put, they will have to deal with the pressing issue of debt servicing in depressed market conditions, and if they decided to ship out they will have to moderate their expectations far below the actual market price.

Year 2016 ushered in a ray of hope to these ailing industry players. As per a Thompson Reuters report, the deal value of Mergers & Acquisitions (M&A) in India in 2016 touched a figure of USD 72.4 billion, which is the highest ever achieved since 2006 beating the previous best of USD 67 billion achieved in 2007. The 2016 value is up by 97.2% in comparison to 2015 value. The materials sector (iron & steel sector is a part of which) saw a jump of 268%, valued at USD 9.2 billion in 2016 as against USD 2.5 billion in 2015.

undefined

Improving demands of steel coupled with budgetary thrust on housing, infrastructure, railways and defence sector is likely to make this sector more attractive and revive domestic steel demand. Changes expected from GST which is likely to be rolled out by July 2017, will have a significant impact on the viability and prospects businesses in the steel sector.

 

Source: events.steelmintgroup.com

Why the Iron & Steel Sector Needs Strategic Initiatives like M&A?

undefined

Much has been said about the need for packages for reviving the manufacturing of iron and steel products businesses in the country. There are various reasons ascribed to the stress that one sees in this industry. Reasons vary from low priced imports from Chinese peers, high input costs like power prices, reasonably priced coal and iron ore, lack of availability of adequate bank credit, high interest costs, etc.

So if we are talking about changing the fortunes of businesses in this sector (manufacturing of iron and steel products) one will have to address these issues in any case and then other local or specific factors could be also put into the viability equation for determining the likely prospects of a specific business. I am sure everybody will agree that only businesses which make money have a future; others will face certain closure (willing or induced).

Relevance

It is important to understand the above issues. Since iron and steel industry is one of the basic materials industries, it is very important for this industry to remain healthy for sustaining a long term growth in an economy like ours (India). Availability of iron and steel products at competitive prices is extremely important for the success of many key industries and sectors like infrastructure, defense, housing, capital goods, automotive and engineering sectors. Suffice it to mention that structurally, this sector’s viability is very important from a strategic perspective for India to remain a self-reliant and healthy economy. More so, when one considers that India has abundant reserves of natural resources of basic raw material inputs (coal, iron ore and man-power) for being a competitive manufacturer in this sector.

Rising Protection and Large Structural Imbalance of Capacities in the World

It is fairly well documented that steel manufacturing capacity in the world is ~2 billion tonnes annually and of the same, ~1.3 billion tonnes is in China. Capacities are being snowballed in China gradually and the pace of such closure is being determined by the Chinese government. It is not going to go away fast and one has to live with the fact that there is likely to be a situation of oversupply of steel products in the world and therefore there will be a rise in protection policies by different countries. Most large steel manufacturers in Europe and US are not making enough money to justify large capital pools invested in them and for this reason one gradually sees industry being relocated to lower cost manufacturing regions or being heavily subsidized by the state just to maintain jobs as alternate jobs are not available and large communities are dependent on survival of these industries. The social impact of closure of such businesses in these regions is deemed to be very high on the local governments. This is also not going to change very soon.

Interest rates

The interest rates in India have come to a level where any significant downward movement is less than likely hereon. Whether we talk about term lending interest rates or working capital borrowings, average interest rates in India for a large corporate like JSW/Tata Steel would be about 10% and for mid corporates would be about ~14%. Well capitalized and efficient players in the mid-corporate level would be having effective interest rates of about 11-11.5%, which is a clear advantage that these units are enjoying to remain viable for the mid to longer term. The goal for most borrowers in this sector therefore would be to structure their borrowings to a level where average borrowing costs are contained to a certain metric depending on the stickiness of their customers and also the level of value added products that they produce from their operations. Key aspects of evaluation of business risk would be the level of indebtedness and risk profile of the business as gauged from stickiness of its customers, and portion of value added captured by the enterprise in the overall value chain of conversion of ore to finished product.

M&A Scenario

There is significant amount of stress in the sector. There are some key macro factors that have contributed to this situation, having gradually evolved in the past 2-3 decades. Some individual units have been able to recognize these aspects and have weathered the storm reasonably well and therefore, these businesses have become clear leaders. Others who could not cope with the changes around them lagged and high levels of indebtedness are clearly pushing them further down the proverbial barrel to bite the bullet of sale or get merged. It needs to be mentioned here that some of the principal factors at the macro level that have a bearing on the fate of a business are not going to change significantly overnight.

Long Term Outlook for the Steel Sector in India is considered to be Favorable

Given the favorable macro-economic environment one would therefore have to drill down to the level of viability assessment of individual sectors and units in the sector and analyze what kind of path will the businesses need to follow to make them reach decent levels of competitiveness. Such that their survival capability is not questioned on a quarterly basis by key stakeholders.

Industry Moving towards Consolidation

The industry would definitely move towards consolidation and the number of players would come down so that the individual units have some kind of pricing power vis-a-vis customers or input suppliers. We are witnessing the same situation in most industries. Case in point is cement, where capacities are getting consolidated among 4-5 large players pan India. This is largely to maintain reasonable margins on sale of cement. Most players are targeting increase in sale realization per bag of cement. And one may notice that most input costs for manufacturing cement remain constant. Here too we are talking of a commodity business where large capex is involved and there is not much of differentiation at the product level, therefore size and distribution strength matters to bring in economies of scale. Another case in point is the telecom industry, which is also going through a phase of consolidation. The number of important players is gradually reduced from more than 20, pan-India, to now less than 10. Everybody is targeting increasing share of ARPU (average realization per user and increasing the user base). The point is players are realizing that to bring in efficiency and consistency of return on capital employed, one has to become an industry leader in some aspect (quality/cost) and keep on increasing scale. This, therefore, creates a distinct barrier to entry over time and therefore value for the incumbent. Hence, it is gradually becoming a business where focus and strategic thinking is becoming increasingly important, and unless one has a long term orientation, one does not see a visible path for making money consistently and therefore the future of the unit in question appears bleak. To achieve that level in business, one has to invest in achieving a reasonable scale, efficient operations, consistent performance and sustained engagement with customers. In effect, shortcuts won’t work and only committed players will be able to create value for themselves and their stakeholders in such businesses.

Valuation Background

M&A opportunities will be available and accessible only when the acquirer sees a path to make money from an acquisition opportunity and have a decent return on capital employed. Unless one is able to put forth so convincingly, there will be no foundation for an M&A to be workable. So effectively, a running assets and cost of putting up a business etc may be relevant arguments but they are not sufficient to determine fair value. The most important parameter in such situations would be really an ability to make money from such opportunities over a reasonable period and a reasonable measure of the same on a risk adjusted basis. A seller has to be very clear that a business asset is bought only when it has an ability to generate returns in a defined time frame. The buyers and sellers have to take stock of such issues at a hard level and debate them within the ownership group so that realistic solutions are achievable. The same principles are applicable on other important stakeholders like banks/lenders/ARCs who are in fact today controlling the destiny of many important assets in this sector. If timely decisions are not taken, it is a real possibility that valuable capital may be permanently destroyed. That will be a loss not only for the key stakeholder or the owner but a collective loss for the nation.

Source: http://events.steelmintgroup.com/

 

undefined

Newer posts → Home ← Older posts

 

Name
 
Mobile

 

 

Register OR Login to you account

* Full name

* Mobile (enter without country code)

* Email

Company Name

* Location

*Plant Type

*Business Type

I have read the terms and conditions

Existing user, Please login to your account

 

* Username

* Password

Forgot password

 

 

Terms & Conditions

TERMS & CONDITIONS

Please read these terms and conditions (hereinafter called "the Terms") carefully before subscribing to or registering with the site operated by SteelMint info Services LLP ("we", "us" or "our") to be found at www.plantbee.com (hereinafter the "Site"). By subscribing to, registering with, accessing or using the Site, you (meaning yourself and any company or other entity or business for which you work or otherwise represent) agree to be legally bound by these Terms as they may be modified and posted on the Site from time to time. If you do not agree to the Terms (or are not authorized to do so) you should not register, subscribe or access the Site.

By using this website all users agree to the stated terms & conditions relating to access and use of this site. If you do not agree then please abandon this webpage.

WEBSITE- MERELY A VENUE/PLATFORM

Web site acts as a mere venue/platform for our members to promote/find offers such as new, old machinery and equipments or running plants. We do not take part in the actual transaction that takes place between the buyers and sellers and hence are not a party to any contract for sale negotiated between buyers and sellers. All transactions will be the responsibility of the members only. This agreement shall not be deemed to create any partnership, joint venture, or other joint business relationship between THE SITE and other party.

POSTING YOUR CONTENT ON WEBSITE

Some of the content displayed on the website is provided or posted by third parties. User(s) can post their content on some of the sections/services of the web site using the self-help submit and edit tools provided at the respective section. User(s) may need to register and/or pay for some of these services. The Site in such case is not the author. The content here is contributed by anonymous, registered or paid user(s). Neither the Site nor any of its affiliates, directors, officers or employees has entered into sale agency relationship with such third party by virtue of our display of the Third Party Content on the website. Any Third Party content is the sole responsibility of the party who has provided the content. The Site is not responsible for the accuracy, propriety, lawfulness or truthfulness of any Third Party content, and shall not be liable to any user(s) in connection with his/her reliance on such Third Party content. In addition, the site is not responsible for the conduct of user(s) activities on the web site, and shall not be liable to any person in connection with any damage suffered by any person as a result of any such user's conduct.

USER(S) SOLELY REPRESENT, WARRANT AND AGREE TO:

(a) Provide the Site with true, accurate, current and complete information to be displayed on the web site and (b) Maintain and promptly amend all information to keep it true, accurate, current and complete.

User(s) hereby grant an irrevocable, perpetual, worldwide and royalty-free, sub-licensable (through multiple tiers) license to the site to display and use all information provided by them in accordance with the purposes set forth in agreement and to exercise the copyright, publicity, and database rights you have in such material or information, in any form of media, third party copyrights, trademarks, trade secret rights, patents and other personal or proprietary rights affecting or relating to material or information displayed on the web site, including but not limited to rights of personality and rights of privacy, or affecting or relating to products that are offered or displayed on the web site (hereafter referred to as "Third Party Rights"). User(s) hereby represent, warrants and agree that user(s) shall be solely responsible for ensuring that any material or information you post on the web site or provide to web site or authorize the web site to display, does not, and that the products represented thereby do not, violate any Third Party Rights, or is posted with the permission of the owner(s) of such rights. User(s) hereby represent, warrant and agree that they have the right to manufacture, offer, sell, import and distribute the products offered and displayed on the web site, and that such manufacture, offer, sale, importation and/or distribution of those products violates no Third Party Rights.

USER(S) HEREBY REPRESENT, WARRANT AND AGREE THAT INFORMATION SUBMITTED TO THE SITE FOR DISPLAY ON THE WEB SITE WILL NOT:

Contain fraudulent information or make fraudulent offers of items or involve the sale or attempted sale of counterfeit or stolen items or items whose sales and/or marketing is prohibited by applicable law, or otherwise promote other illegal activities;

Be part of a scheme to defraud other User(s) of the web site or for any other unlawful purpose;

Relate to sale of products or services that infringe or otherwise abet or encourage the infringement or violation of any third party's copyright, patent, trademarks, trade secret or other proprietary right or rights of publicity or privacy, or any other Third Party Rights;

Violate any applicable law, statute, ordinance or regulation (including without limitation those governing export control, consumer protection, unfair competition, anti-discrimination or false advertising);

Be defamatory, libelous, unlawfully threatening or unlawfully harassing

Be obscene or contain or infer any pornography or sex-related merchandising or any other content or otherwise promotes sexually explicit materials or is otherwise harmful to minors;

Promote discrimination based on race, sex, religion, nationality, disability, sexual orientation or age;

Contain any material that constitutes unauthorized advertising or harassment (including but not limited to spamming), invades anyone's privacy or encourages conduct that would constitute a criminal offense, give rise to civil liability, or otherwise violate any law or regulation;

Solicit business from any User(s) in connection with a commercial activity that competes with the Site;

Contain any computer viruses or other destructive devices and codes that have the effect of damaging, interfering with, intercepting or expropriating any software or hardware system, data or personal information;

Link directly or indirectly to or include descriptions of goods or services that are prohibited under the prevailing law; or

Otherwise create any liability for the Site or its affiliates.

The Site reserves the right in its sole discretion to remove any material/content/photos/offers displayed on the web site which it reasonably believes is unlawful, could subject the Site to liability, violates the terms and conditions and/or Agreement or is otherwise found inappropriate in the Site's opinion. Web site reserves the right to cooperate fully with governmental authorities, private investigators and/or injured third parties in the investigation of any suspected criminal or civil wrongdoing.

In connection with any of the foregoing, web site may suspend or terminate the Account of any User as web site deems appropriate in its sole discretion. User(s) agree that web site shall have no liability to any User(s), including no liability for consequential or any other damages, in the event web site takes any of the actions mentioned in this Section, and that you agree to bear the risk that web site may take such actions.

Web site acts as a content integrator and is not responsible for the information provided by user(s) to be displayed on the web site. The Site do not have any role in developing the content.

The Site provides an on-line platform for exchanging information between buyers and suppliers of Plant, Machinery & Equipments. Web site does not represent the seller or the buyer in specific transactions and does not charge any commission for enabling any transaction. Web site does not control and is not liable to or responsible for the quality, safety, lawfulness or availability of the products or services offered for sale on the web site or the ability of the suppliers to complete a sale or the ability of buyers to complete a purchase. User(s) are cautioned that there may be risks of dealing with foreign nationals or people acting under false pretenses. Web site uses several techniques (such as Plant Bee Verified) to verify the accuracy and authenticity of the information our user(s) provide us. However, since it is not possible in all cases and is not 100% fool-proof, the Site cannot and does not confirm each user(s) purported identity (including, without limitation Plant Bee Verified members). Plant Bee encourages user(s) to use various tools available on the web site and otherwise, as well as common sense, to evaluate the user(s) with whom they would like to deal with.

User(s) acknowledge that user(s) fully assume the risks of purchase and sale transactions when using the web site to conduct transactions, and that user(s) fully assume the risks of liability or harm of any kind in connection with subsequent activity of any kind relating to products or services that are the subject of transactions using the web site.

Such risks shall include, but are not limited to, mis-representation of products and services, fraudulent schemes, unsatisfactory quality, failure to meet specifications, defective or dangerous products, unlawful products, delay or default in delivery or payment, cost mis-calculations, breach of warranty, breach of contract and transportation accidents. Such risks also include the risks that the manufacture, importation, distribution, offer, display, purchase, sale and/or use of products or services offered or displayed on the web site may violate or may be asserted to violate Third Party Rights, and the risk that you may incur costs of defense or other costs in connection with third parties' assertion of Third Party Rights, or in connection with any claims by any party that they are entitled to defense or indemnification in relation to assertions of rights, demands or claims by Third Party Rights claimants. Such risks also include the risks that consumers, other purchasers, end-users of products or others claiming to have suffered injuries or harms relating to product originally obtained by user(s) of the web site as a result of purchase and sale transactions in connection with using the web site may suffer harms and/or assert claims arising from their use of such products. All of the foregoing risks are hereafter referred to as "Transaction Risks".

User(s) agree that Plant Bee shall not be liable or responsible for any damages, liabilities, costs, harms, inconveniences, business disruptions or expenditures of any kind that may occur/arise as a result of or in connection with any Transaction Risks. User(s) are solely responsible for all of the terms and conditions of the transactions conducted on, through or as a result of use of the web site, including, without limitation, terms regarding payment, returns, warranties, shipping, insurance, fees, taxes, title, licenses, fines, permits, handling, transportation and storage. In the event of a dispute with any party to a transaction, user(s) agrees to release and indemnify the Site (and our agents, affiliates, directors, officers, employees and associated sites and mini sites) from all claims, demands, actions, proceedings, costs, expenses and damages (including without limitation any actual, special, incidental or consequential damages) arising out of or in connection with such transaction. User(s) may use the content/features on web site solely for their personal or internal purposes. User(s) agree that they will not use Plant Bee database and/or services to send junk mail, chain letters or spamming or the transmission of any unlawful, harassing, libelous, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable material of any kind or nature. Further, as a Registered User, user(s) will not use the Email Account to publish, distribute, transmit or circulate any unsolicited advertising or promotional information or any content that is obscene, indecent, seditious, offensive, defamatory, threatening, or which incites or results in causing racial hatred, discrimination, menace or breach of confidence.

The site reserves the right to add/modify/discontinue any of the features offered with a service.

AMENDMENT TO USER(S) AGREEMENT

Plant Bee may change, modify, amend, or update this agreement from time to time without any prior notification to user(s) and the amended and restated terms and conditions of use shall be effective immediately on posting. If you do not adhere to the changes, you must stop using the service. Your continuous use of the service will signify your acceptance of the changed terms.

COPYRIGHT

All content on this web site is the copyright of Plant Bee except the third party content and link to third party web site on our website.

Plant Bee is not an expert in your intellectual property rights, and we cannot verify that the users of our online marketplace - who post various trade leads on the website - have the right to sell the goods offered. We will appreciate your assistance in identifying listings which may not appear on their face to infringe your rights but which you believe are infringing. Plant Bee is also not an arbiter or judge of disputes about intellectual property rights. By taking down a listing, as a prudential matter, Plant Bee is not endorsing a claim of infringement. Neither, in those instances in which Plant Bee declines to take down a listing, is Plant Bee determining that the listing is not infringing, nor is Plant Bee endorsing the sale of goods in such cases.

Plant Bee respects the intellectual property rights of others, and we expect our user(s) to do the same. Plant Bee believes that user(s) agree that they will not copy, download & reproduce any information, text, images, video clips, directories, files, databases or listings available on or through the web site (the "Plant Bee content") for the purpose of re-selling or re-distributing, mass mailing (via email, wireless text messages, physical mail or otherwise), operating a business competing with Plant Bee, or otherwise commercially exploiting the Plant Bee content. Systematic retrieval of Plant Bee content to create or compile, directly or indirectly, a collection, compilation, database or directory (whether through robots, spiders, automatic devices or manual processes) without written permission from Plant Bee is prohibited.

In addition, use of the content for any purpose not expressly permitted in this Agreement is prohibited and may invite legal action. As a condition of your access to and use of Plant Bee's services, you agree that you will not use the web site service to infringe the intellectual property rights of others in any way. Plant Bee reserves the right to terminate the account of a user(s) upon any infringement of the rights of others in conjunction with use of the Plant Bee service, or if Plant Bee believes that user(s) conduct is harmful to the interests of Plant Bee, its affiliates, or other users, or for any other reason in Plant Bee's sole discretion, with or without cause.

INTELLECTUAL PROPERTY RIGHTS

Plant Bee is the sole owner or lawful licensee of all the rights to the web site and its content. Web site content means its design, layout, text, images, graphics, sound, video etc. The web site content embody trade secrets and intellectual property rights protected under worldwide copyright and other laws. All title, ownership and intellectual property rights in the web site and its content shall remain with PlantBee.com, its affiliates or licensor's of PlantBee.com content, as the case may be.

All rights not otherwise claimed under this agreement or by PlantBee.com, are hereby reserved. The information contained in this web site is intended, solely to provide general information for the personal use of the reader, who accepts full responsibility for its use. Plant Bee does not represent or endorse the accuracy or reliability of any information, or advertisements (collectively, the "content") contained on, distributed through, or linked, downloaded or accessed from any of the services contained on this web site, or the quality of any products, information or other materials displayed, or obtained by you as a result of an advertisement or any other information or offer in or in connection with the service.

TERMINATION

Most content and some of the features on the web site are made available to visitors free of charge. However, the Site reserves the right to terminate access to certain areas or features of the web site (to paying or registered users) at any time for any reason, with or without notice. The site also reserves the universal right to deny access to particular users to any/all of its services/content without any prior notice/explanation in order to protect the interests of the Site and/or other visitors to the web site. The Site reserves the right to limit, deny or create different access to the web site and its features with respect to different user(s), or to change any of the features or introduce new features without prior notice.

All rights reserved.

Chat with Us