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TRUCKMAKERS' NEWS WORLDWIDE * India
* Daimler, Hero to invest Rs 4,400 cr in commercial vehicles
New Delhi,India -The Financial Express -April 22, 2008: -- The world's largest truck manufacturer Daimler AG and the Munjals-owned Hero group on Monday said they will invest Rs 4,400 crore in the next five years through a joint venture to develop and manufacture commercial vehicles in the country by 2010... The two Companies on Monday signed a joint venture agreement in which the German partner will have 60% stake and the rest will be with the Hero group in a company named Daimler Hero Motor Corporation (DHMC)... As a part of the agreement, Daimler will invest Rs 1,368 crore while the Hero group will put in Rs 900 crore...
Labels: truckmakers news worldwide
posted by Unknown @ 7:05 PM
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