Financial Daily from THE HINDU group of publications
Monday, Mar 13, 2006
Financial Daily from THE HINDU group of publications Monday, Mar 13, 2006 |
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Corporate
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New Projects Industry & Economy - HCV/LCV/Tractors Man Force Trucks plant to be inaugurated on April 30 Sudha Menon
Export plans The joint venture will, meanwhile, develop the Indian operations as an export hub for Asia and Africa, with at least half of the production eventually going towards exports.
Pune , March 12 Man Force Trucks, the joint venture between Europe's third largest commercial truck maker and the Pune-based Force Motors is all set to go on stream on April 30. The Chairman and Managing Director of Force Motors, Mr Abhay Firodia, told Business Line that the joint venture's new plant for the high tonnage trucks at its Pithampur facilities will be inaugurated on April 30 with plans to go into production immediately. "Much of our investments for the project, a little less than Rs 500 crore, is already in place and we will go into production with a full range of trucks in the 16-50 tonnes segment," Mr Firodia said.
70:30 VENTURE
The 70:30 joint venture between Force Motors and MAN AG, Germany, will manufacture high tonnage and speciality vehicles such as long haul trucks, tippers, tractor-trailers, multi-axle vehicles, he added. "We are laying capacities of 24,000 units with an eye on the future markets. Technology in the commercial vehicles business will change dramatically as the economy grows and road conditions improve. The company joins the long list of players who have jumped the heavy commercial vehicle bandwagon in recent times.
The joint venture will, meanwhile, develop the Indian operations as an export hub for Asia and Africa, with at least half of the production eventually going towards exports. The Pithampur facility will also be developed into an export hub for auto components sourced by Force Motors for MAN's European factories.
Related Stories: More Stories on : New Projects | HCV/LCV/Tractors
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