ANG Auto Strategic tie-up with Ashok Leyland

ANG Auto Ltd has announced that ANG Auto Tech Pvt Ltd (a subsidiary of the Company), has entered into a strategic tie-up with Ashok Leyland, the flagship of the Hinduja Group in India for the manufacture and supply of tractor - trailers for a initial period of five years to be renewed with mutual consent, for the value of approx, Rs 15000 - 18000 million.

Under this agreement, ANG Auto Tech (P) Ltd is setting up a capacity of 6,000 trailers per annum for Ashok Leyland from its Sitarganj unit (Uttaranchal) exclusively for Ashok Leyland. This manufacturing facility will be operational by October 2006.

"Today there is a shortage of standard international quality trailers in the market. This tie-up will ensure greater availability of tractor-trailers" The trailers will be aggressively priced, to ensure that the end user gets standard international quality at competitive prices, said Mr Premjit Singh, MD, of the Company. These trailers will be co-branded & marketed by Ashok Leyland.

The Company will manufacture trailers in technical collaboration with FUWA Engineering, China, one of the largest manufacturer of axles in the world.

Source : Equity Bulls

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