Breaking News

You are here » Indian-Commodity  :  Top News  :  Force Motors to enter into JV with MTU Friedrichshafen GmbH

20-Mar2018

Force Motors to enter into JV with MTU Friedrichshafen GmbH

Force Motors' board has given necessary approvals, in respect of the investment in and promotion of a private limited company, to be registered as per the provisions of the Companies Act, 2013, to implement the Joint Venture (JV), for development, manufacture and marketing of engines, engines for power generation, complete power generators and engines for various applications like Rail with MTU Friedrichshafen GmbH, Germany, a subsidiary of Rolls-Royce Power Systems AG, Germany.

In the proposed Joint Venture Company, Force Motors would hold 51% of the paid-up share capital and MTU Friedrichshafen GmbH, Germany would hold 49% of the paid-up share capital. The Board of directors of the company at its meeting held on March 20, 2018 approved the same.

Force Motors is a Pune-based commercial vehicle maker. It is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.


Related News

View all news

Copper futures end tad higher on upbeat trade talk

Copper futures ended marginally higher on Wednesday due to upbeat comments from US President Donald Trump about a potential trade deal with China. Trump said he would intervene in the Justice Department's......

Gold futures end higher as dollar slides

Gold futures ended higher on Wednesday, with weaker dollar amid report that US consumer prices were unchanged in November, supporting the view that underlying inflation remained firm. Moreover, dimmed......

Physical Rubber prices witness improvement on Wednesday

Physical Rubber prices showed improvement on Wednesday. The market regained strength on short covering but the volumes continued to remain low. Spot prices for RSS-4 variety rose to 120.50/ kg compared......

Top News

View all news

Patels Airtemp receives settlement notice from SEBI

Patels Airtemp (India) has received from SEBI, Summary Settlement Notice vide its Letter dated December 12, 2018 for settlement amount of Rs 3,68,156 against violation of Regulation 7(2)(b) of SEBI (Prohibition......

IndiGo in initial discussion with Qatar, Turkish Airlines for global expansion: Report

In order to increase its global footprint, InterGlobe Aviation (IndiGo) is reportedly in preliminary discussion with Qatar Airways and Turkish Airlines. The Budget carrier is looking for interline and......

Talwalkars Lifestyles integrates with Growfitter

Talwalkars Lifestyles has integrated with Growfitter to introduce the country's first ever AI (Artificial Intelligence) based Incentivized Wellness Program. The Growfitter FITKIT Program is a technologically......