* Chennai - Ashok Leyland sells Czech truck arm for $11M
-- Hinduja Group flagship Indian company Ashok Leyland Ltd, the second-largest commercial vehicle maker in the country, has sold its entire stake in AVIA Ashok Leyland Motors s.r.o. to an unnamed strategic investor for $11 million, according to a stock market disclosure. Ashok Leyland acquired the firm in 2006... AVIA Ashok Leyland Motors operates as a vehicle and machinery manufacturer in the Czech Republic. Its products include tipper units, flat bodies, fridge bodies and box vans for car recovery vehicles and mini-skip wagon... It had stopped making trucks in October 2013 and since then has been only involved with auto components... Last Nov, Nissan International Holdings, a Dutch investment arm of Japanese automaker Nissan, bought 38 per cent stake in Ashok Leyland's engineering services arm Hinduja Tech...
Chennai, India - VCCircle, by BHAWNA GUPTA, by Joby Puthuparampil Johnson - March 30, 2015Labels: truckmakers news India
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