Volvo Eicher Commercial Vehicles (VECV) has divested its entire stake in its US-based subsidiary. Eicher Engineering Solutions, to Spain’s SegulaTecnologias Espana for a sum of USD 1.85 million. The company has sold 100 per cent shares in its subsidiary to the Spanish company. According to Vinod Aggarwal, MD & CEO, VECV, the divestment is part of VECV’s plans to drive[Read More…]
Volvo Buses India has announced the supply of 100 Volvo 8400 city buses with the 330 hp, 8-litre common-rail turbo-diesel engine manufactured at the VE Powertrain facility, Pithampur. UBS II compliant, the buses are fitted with a six-speed automatic transmission, and an integrated retarder and optimised rear axle ratio. This is the first instance when the locally made 8-litre engine[Read More…]
Specialising in the manufacture of drivetrain systems for off-highway equipment and machines, Oerlikon Graziano India is targetting a rise in revenue to Rs.1500 by 2019. With a good chunk of what it produces exported, the company is eyeing 20 per cent growth in FY2016-17. In the last fiscal, Oerlikon Graziano posted a 23 per cent rise in third-party sales, which[Read More…]
Union road and transport minister, Nitin Gadkari, announced a fund of Rs.60,000 crore to boost road network in Marathwada. The funds, the minister is known to have said, will be given over a period of five years. A detailed project report, claim industry sources, is being prepared by the authorities concerned. Gadkari also drew attention to work already in progress.[Read More…]
