CIE Automotives Indian arm, Mahindra CIE Automotive Limited (MCIE), formerly known as Mahindra Forging Limited, will acquire Bill Forge Private Limited (BFPL). MCIE board of directors resolved to acquire 100 per cent of equity shares for Rs. 13,312 million. Furthermore, MCIE Board resolved to issue 54.49 million shares to CIE Automotive SA (CIE) and BFPL shareholders, including the Haridass Family and[Read More…]
Sonalika International Tractors Ltd., aiming to grow its exports by over 20 per cent in the current fiscal, is exploring 10 new export destinations including USA, Japan and Korea with its products like the 120 bhp tractor. The first set of tractors, according to Gaurav Saxena,Tractors President-International Operations, have already been shipped to USA. They would be made commercially available[Read More…]
Road construction and irrigation activities are claimed to be driving growth in the earthmoving and constrction equipment sector. Sales grew by 49.41 per cent between January and July, claim industry sources. They add that sales grew at the fastest pace in the last five years, including three years of consecutive decline between 2012 and 2014. Sales rose to 26,106 units[Read More…]
Tata Motors is applying CV export thrust to compensate for its declining domestic market share, claim industry sources. In the year ended March 2016, the company exported 50,000 CVs, they add. Looking to double exports in the next two years, Tata Motors, will employ a two-pronged strategy of consolidating presence in markets like Vietnam, which it entered three years ago,[Read More…]
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