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“ANG Auto will manufacture
and supply 6,000 tractor trailer units annually to Ashok
leyland for the next five years and the order size is
between Rs 1,500-1,800 crore,” Ashok Leyland COO Vinod
Dasari told newspersons here.
Dasari said, Ashok Leyland may look at picking up a
stake in the ANG subsidiary “at a later stage”.
Speaking on the tie-up, he said, “The biggest advantage
to the customer is that he gets an Ashok
Leyland-branded, fully-built tractor trailer instead of
waiting for months.” ANG Auto is a component
manufacturing company and had revenues of Rs 57 crore
last fiscal with as much as 85 per cent through overseas
sales. The company has recently consolidated group
companies with itself and expects revenues to rise to Rs
130 crore by the year end of this fiscal.
The company will hold around 75 per cent equity in the
new subsidiary and manufacture the trailers in
collaboration with FUWA Engineering of China, a major
manufacturer of axles.
Ashok Leyland also said it expected sales to grow 15-20
per cent this fiscal and was “evaluating options” to
manufacture light com mercial vehicles. |
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