Ashok Leyland John Deere Construction Equipment Company Pvt Ltd and Corporation Bank have entered into an agreement that provides for the bank to fund the company's customers.

According to a press release from the construction equipment manufacturer, the agreement strengthens the relationship with Corporation Bank, which wishes to enlarge its funding support to SME/Priority sector customers and the Ashok Leyland Group.

Corporation Bank will offer Leyland Deere's customers finance at very competitive terms pan-India. Leyland Deere, a joint venture between the Hinduja Group flagship, Ashok Leyland, and John Deere Construction & Forestry Co, US, launched their first vehicle — the 435 Backhoe Loader — last month.

Leyland Deere has commenced operations at their facility in Gummidipoondi, Thiruvallur District, to the north of Chennai, with the manufacture of Backhoe Loaders.

(This article was published on December 15, 2011)
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