Tata Motors & Iveco explore strategic alliance opportunities

Tata Motors Ltd has announced that Iveco, a Company of Fiat Group, and Tata Motors on February 14, 2007 has announced that the signing of a Memorandum of Understanding (MoU) to analyse the feasibility of cooperation, across markets, in the area of Commercial Vehicles. The MoU would encompass a number of potential developments in engineering, manufacturing, sourcing and distribution of products, aggregates and components.

Shortly after the MoU signature, Iveco and Tata Motors will set up a joint Steering Committee to determine the feasibility of cooperation, both in the short and over the long term. When found feasible, the two Companies will enter into definitive agreements in the course of the coming months.

The Managing Director of the Company, Mr. Ravi Kant, said, "We are truly excited about the potential of the opportunities this cooperation offers, complementing each other's strengths in products and across markets."

Source : Equity Bulls

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