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Mumbai, Sept. 2

Tata AutoComp Systems' and Gestamp Servicios, S.L's joint venture company called Automotive Stampings and Assemblies Ltd (ASAL) announced setting up a new manufacturing unit in Pantnagar, Uttarakhand, with an investment of Rs 48 crore. ASAL, the sheet metal components and assemblies manufacturer company for the automobile industry, would also look at a capacity expansion at Chakan with a Rs 21-crore investment, said a company statement. It expects to complete both the activities by the last quarter of the current financial year. Recently, Gestamp Servicios, S. L., acquired 37.5 per cent equity share capital, as a joint venture partner with Tata AutoComp Systems Ltd, in ASAL. - Our Bureau

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