Hindujas Look for Acquisitions in Europe, South America
The Hinduja Group is looking for acquisitions in Foundries & Technology companies in Europe & South America & planning an investment of Rs 300 Billions.Ashok Leyland a group company is setting up an integrated Bus Assembly unit in UAE to produce Modern vehicles & market these at very competitive prices in & around the local market .Some of the companies have already been identified for acquisitions.For foundries ,the companies in the business of castings of engine blocks & cylinder heads are likely to be the targets
According to the company sources,they are not likely to consider passenger car segment as it is already too crowded .Ashok Leyland has also entered into JV with Nissan for LCVs & with John Deere for Earth Moving Machinery .The capacity of Ashok Leyland is being enhanced from 84,000 units to 100,000 units per annum
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