MAN Nutzfahrzeuge and Force Motors step up involvement in India
MAN
Nutzfahrzeuge AG increases its share in the Indian joint venture MAN FORCE TRUCKS Private Limited from 30 to 50 per cent.
MAN Nutzfahrzeuge AG increases its share in the joint venture with Force Motors Ltd. from 30 to 50 per cent. "In increasing our share we are taking on more responsibility for the further successful expansion of our activities in India. MAN will be significantly spurring on sale of our Indian-built trucks in the growth markets in Asia and Africa," said Anton Weinmann, Chairman of the Executive Board of the MAN Nutzfahrzeuge Group. "Force Motors welcomes the closer involvement of MAN. This increase in its holding is proof of its confidence in our successful joint venture," added Abhay Firodia, Chairman and Managing Director of Force Motors.
Begun in 2006, the joint venture produces heavy trucks with the MAN CLA brand for India and for export to Asian and African countries. Some 90 per cent of the parts used now come from local suppliers. All local suppliers are meeting MAN's high quality standards. The product range extends from chassis via construction-site tippers to semitrailer tractors for long-haul transport. The MAN CLA occupies a leading position as a premium truck in the Asian market thanks to its technical equipment standard, comfort, safety and high-quality production.
The joint venture is now in a position to invest in further expansion of production and the sales network. In future the joint venture will be managed from MAN Nutzfahrzeuge and Force Motors in close co-ordination.
Munich, December 3rd 2008
Lars Wrebo (left), Member of the Executive Board MAN Nutzfahrzeuge Group, and Abhay Firodia, Chairman and Managing Director Force Motors Ltd. signing the contract.
Contact:
Dr. Detlef Hug
MAN Nutzfahrzeuge GroupHead of Media Relations and Issue Management / Spokesman
Dachauerstr. 667
D 80995 Munich
| Phone: | +49 (0)89 1580-2001 |
| Fax: | +49 (0)89 1580-912485 |
| E-Mail: | Detlef.Hug@man.eu |
