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 higher on Tuesday

Copper futures ended higher on Tuesday after the United States and China announced fresh tariffs that were less harsh than some investors had feared. The US 10% tariff on $200 billion of Chinese imports......

Physical Rubber prices witness weakness on Tuesday

Physical Rubber prices showed weakness on Tuesday on account of buyer resistance in the market. Spot prices for RSS-4 variety fell to Rs 129.50/ kg compared to its previous closing of Rs 130/ kg; while......

Gold futures end lower with firm dollar

Gold futures ended lower on Tuesday, due to firm dollar after the Trump administration levied a 10% tariff on $200 billion in imported goods from China. Market players are on optimism that the impacts......

Top News

View all news

TI Financial Holdings to make investment of up to Rs 50 crore

TI Financial Holdings has received an approval for the further investment in shares of Cholamandalam Investment and Finance Company (CIFCL) up to 300,000 equity shares Rs 10 each, up to a sum not exceeding......

Glenmark Pharma inducts into Dow Jones Sustainability Indices 2018

Glenmark Pharmaceuticals has been listed on the Dow Jones Sustainability Indices 2018. Dow Jones Sustainability Index (DJSI) is one of the most esteemed global benchmarks for sustainable business practices.......

Tata Steel completes acquisition of 51% equity stake in CPDPL

Tata Steel has completed the acquisition of 51% equity stake in Creative Port Development (CPDPL). Earlier, the company had executed definitive agreement for development of Subarnarekha Port &......