Financial Daily from THE HINDU group of publications
Friday, Feb 03, 2006
Financial Daily from THE HINDU group of publications Friday, Feb 03, 2006 |
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Corporate
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Alliances & Joint Ventures Tata Cummins to begin manufacturing ISB engine — Cummins, Tata Motors sign pact Our Bureau
Pune , Feb. 2 CUMMINS Inc and Tata Motors have signed an agreement that will allow their joint venture — Tata Cummins Ltd (TCL) — to begin manufacturing the ISB engine. Under the agreement, TCL will increase its total engine production to 100,000 units within two years and 120,000 units thereafter. The engines produced by TCL will meet Euro 2, Euro 3 and Euro 4 Indian and European standards for diesel emissions. TCL now produces approximately 69,000 Cummins B Series engines a year. According to an official communication, Mr Anant Talaulicar, Chairman - Cummins India Ltd and Managing Director - Tata Cummins Ltd, "Cummins has had a longstanding presence in India where it has operated since 1962, and this is another significant milestone in our strategic plans to expand in India." The estimated $60 million needed for the expansion will be funded by TCL's ongoing cash flow and joint venture debt. TCL, formed in 1992, has been a successful joint venture between the two companies and manufactures the Cummins B Series engines in India for use in trucks manufactured by Tata Motors and sales by Cummins in India to other applications and OEMs.
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