Ashok Leyland invests in German firmJune 17th, 2008 - 6:30 pm ICT by IANS
Chennai, June 17 (IANS) Leading Indian commercial vehicles manufacturer Ashok Leyland Ltd has made a strategic investment of an undisclosed sum in the German firm Albonair. According to Ashok Leyland’s filing with the National Stock Exchange (NSE), the investment is for “development of vehicle emission treatment/control systems and products”.
The Rs.78 billion-turnover Ashok Leyland has declined to state the value of its investment in Albonair and the percentage of stake it would acquire in exchange.
The Dortmund-based Albonair develops, produces and distributes exhaust-after-treatment systems for commercial vehicles. Its components and systems are developed according to individual local requirements for all relevant markets.