Eicher Motors Acquires Hoff & Associates, USA

Eicher Motors Ltd has announced that the Company has acquired 100% equity shares of Hoff and Associates, Plymouth, Michigan USA along with its two 100% owned subsidiaries in Beijing and Shanghai, China.

A professional services organization founded in 1990, Hoff and Associates delivers comprehensive engineering solutions. Utilizing sophisticated computerized design, modeling, and analysis tools, Hoff and Associates has achieved significant success addressing the needs of aerospace, automotive, semiconductor, medical, marine and plastics industries.

The Company has paid a total consideration of US$ 3.5 million to acquire the 100% equity shares from the Shareholders of Hoff and Associates.

Hoff & Associates reported a consolidated turnover of US$ 5.2 million in the year ended December 31, 2006.

The stock closed the day at Rs.274.25, up by Rs.24.25 or 9.70%. The stock hit an intraday high of Rs.275 and low of Rs.265. The total traded quantity was 276173 shares compared to 2 week average of 208297.

Source : Equity Bulls

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