MAN takes over joint venture in India

News stories are free to read. Click here for full access to all the features, articles and archive from only £8.99.

INDIA MAN Truck & Bus AG is taking over its Indian joint venture MAN Force Trucks Pvt. Ltd.

The move has been agreed by both joint venture partners Force Motors Ltd. and MAN Truck & Bus AG. Subject to receipt of the necessary approvals the agreement will be implemented by the end of the year.

The joint venture was founded in 2006 and produces a range of heavy MAN CLA trucks for the Indian market and for export to countries in Asia and Africa.

MAN Truck & Bus increased its holding in MAN Force Trucks Pvt. Ltd during 2008 from 30% to 50%. In purchasing the shares held by Force Motors Ltd., MAN Truck & Bus is assuming sole responsibility for production and sale of the MAN CLA inside and outside India.

Both will continue to co-operate. Force Motors will supply parts and components for production of the MAN CLA through an official supplier agreement.