Showing posts with label Ashok Leyland. Show all posts
Showing posts with label Ashok Leyland. Show all posts
Tuesday, May 13, 2008
JBM Auto signs JV with Ashok Leyland
JBM Auto Ltd said on Monday it has signed a joint venture with Ashok Leyland Ltd to supply sheet metal components.The venture, in which JBM holds 74 per cent stake, will invest Rs 100 crore, the company said in a statement. The commercial operations will start from 2010.
Thursday, August 30, 2007
Nissan, Leyland in small truck alliance
The Chennai-based commercial vehicles maker and Japan’s Nissan Motor, in which France’s Renault is the single-largest shareholder, today agreed to form three joint ventures to develop, manufacture and market light commercial vehicles (LCVs). The joint venture will produce 100,000 vehicles annually in the medium term.
Renault already has a joint venture with utility vehicles maker Mahindra & Mahindra, which is rolling out the Logan sedan, and has announced another one with two-wheeler maker Bajaj Auto for a low-cost car.
The first of the three ventures will make Nissan commercial vehicles in India for the domestic market and overseas sales. Ashok Leyland will control a majority stake in the company.A venture for assembling engines and related parts is also on the cards. It will be controlled by Nissan.
The third company, equally owned by the two partners, will develop LCVs and engines, and market them in India and overseas. The products developed will be sold under both the Ashok Leyland and Nissan brands.
The two companies are also thinking of collaborating in sales and distribution. This may include giving Nissan an access to Ashok Leyland’s vast dealer network. Ashok Leyland may use Nissan’s dealer network in identifying export markets.Ashok Leyland expects to sign a final agreement with Nissan in October after completing a feasibility study.
Monday, July 16, 2007
Ashok Leyland, Siemens VDO to float 50:50 JV
Ashok Leyland and Siemens VDO Automotive AG, Germany, have signed an agreement for a 50:50 joint venture to design, develop and adapt infotronics products and services for the transportation sector.
According to a release issued by Ashok Leyland to the BSE today, the agreement was signed by managing director R Seshasayee and Christoph Maximilian Eisenhardt, CEO (global commercial vehicles business), Siemens VDO in Chennai today.
"Our customer insight, engineering capabilities and competitiveness together with the technology strengths of a global leader such as Siemens VDO will be a unique combination that will fuel the growth of this JV in what is undeniably the emerging big opportunity in the transportation sector,” R Seshasayee, MD, Ashok Leyland, said.
The two companies are consortium members in the Chennai metropolitan bus terminus project to be launched later this year.
Read more in The Business Standard article.
According to a release issued by Ashok Leyland to the BSE today, the agreement was signed by managing director R Seshasayee and Christoph Maximilian Eisenhardt, CEO (global commercial vehicles business), Siemens VDO in Chennai today.
"Our customer insight, engineering capabilities and competitiveness together with the technology strengths of a global leader such as Siemens VDO will be a unique combination that will fuel the growth of this JV in what is undeniably the emerging big opportunity in the transportation sector,” R Seshasayee, MD, Ashok Leyland, said.
The two companies are consortium members in the Chennai metropolitan bus terminus project to be launched later this year.
Read more in The Business Standard article.
Tuesday, July 3, 2007
Ashok Leyland signs JV with Finland firm
Ashok Leyland on Tuesday said it has formed a joint venture with Finland-based Alteams Group that will invest Rs 175 crore initially to make aluminum products for automotive and telecom sectors.
"Apart from a fusion of the respective strengths of both partners, the JV reflects the expansion of Ashok Leyland group's presence in auto components sector to take advantage of rapidly growing opportunities both in India and abroad," Ashok Leyland Managing Director R Seshasayee said.
The 50:50 joint venture would manufacture High Pressure Die Casting (HPDC) aluminium products, Ashok Leyland said in a communique to Bombay Stock Exchange.
The JV would start operations this year and first phase will be completed by 2008 at an investment of over Rs 175 crore. With the completion of second phase, the JV would achieve a turnover of Rs 650 crore and generate jobs for over 1,000 people, Ashok Leyland added.
The manufacturing unit in Tamil Nadu will also be used to partly meet Ashok Leyland's captive requirements for components for engines and gearboxes.Shares of Ashok Leyland were trading at Rs 38.20, up 1.19 per cent on BSE in afternoon trade.
The JV would synergize Ashok Leyland's expertise in automotive sector with Alteams' know-how of HPDC and their insights into telecom sector, it said.
"Apart from a fusion of the respective strengths of both partners, the JV reflects the expansion of Ashok Leyland group's presence in auto components sector to take advantage of rapidly growing opportunities both in India and abroad," Ashok Leyland Managing Director R Seshasayee said.
The 50:50 joint venture would manufacture High Pressure Die Casting (HPDC) aluminium products, Ashok Leyland said in a communique to Bombay Stock Exchange.
The JV would start operations this year and first phase will be completed by 2008 at an investment of over Rs 175 crore. With the completion of second phase, the JV would achieve a turnover of Rs 650 crore and generate jobs for over 1,000 people, Ashok Leyland added.
The manufacturing unit in Tamil Nadu will also be used to partly meet Ashok Leyland's captive requirements for components for engines and gearboxes.Shares of Ashok Leyland were trading at Rs 38.20, up 1.19 per cent on BSE in afternoon trade.
The JV would synergize Ashok Leyland's expertise in automotive sector with Alteams' know-how of HPDC and their insights into telecom sector, it said.
Wednesday, June 27, 2007
Nelcast lists at 15% premium to issue price
Nelcast Ltd. listed at Rs 252 at a 15% premium on the NSE against issue price of Rs 219 per share. At 10:21 AM, the scrip was at Rs 221.40, up Rs 2.40 or 1.10% on the NSE with volume of 16,97,197 shares. So far, it rose to a high of Rs 274 and low of Rs 215.
The company has raised Rs 95.26 crore from its public issue of 43.50-lakh shares of face value Rs 10 each. The IPO, which was open from June 4-8, was subscribed 7.36 times.
Nelcast caters mainly to commercial vehicle and tractor industries. It plans to use the issue proceeds for expansion and modernisation of its iron casting units at Gudur in Andhra Pradesh and Ponneri in Tamil Nadu, to reach a production capacity of 1,50,000 MT per annum by 2008-09.
The company’s customer base includes Tata Motors, Ashok Leyland, Eicher Motors, Tata Cummins, Mahindra and Mahindra, TAFE, International Tractors and New Holland India. It exports to the US, Europe and Australia, its client list comprising Arvin Meritor, Volvo, SIGMA and Dobbie Dico Meter.
The company has raised Rs 95.26 crore from its public issue of 43.50-lakh shares of face value Rs 10 each. The IPO, which was open from June 4-8, was subscribed 7.36 times.
Nelcast caters mainly to commercial vehicle and tractor industries. It plans to use the issue proceeds for expansion and modernisation of its iron casting units at Gudur in Andhra Pradesh and Ponneri in Tamil Nadu, to reach a production capacity of 1,50,000 MT per annum by 2008-09.
The company’s customer base includes Tata Motors, Ashok Leyland, Eicher Motors, Tata Cummins, Mahindra and Mahindra, TAFE, International Tractors and New Holland India. It exports to the US, Europe and Australia, its client list comprising Arvin Meritor, Volvo, SIGMA and Dobbie Dico Meter.
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