Ashok Leyland signs Principles of Co-operation with Paramount Group

To develop Mine Protected Vehicles in India

Ashok Leyland, the Hinduja Group flagship today announced the signing of a Principles of Co-operation with the Paramount Group, South Africa for the development and manufacture of Mine Protected Vehicles in India. Mr. Vinod K. Dasari, Chief Operating Officer and Whole Time Director, Ashok Leyland and Mr. John Craig Chief Executive Officer, Paramount Group exchanged documents to this effect.

The Mine Protected Vehicles will be based on Ashok Leyland’s proven Stallion aggregates.

The Principles of Co-operation will soon translate into an operating agreement for the manufacture of Mine Protected Vehicles in India.

About Paramount Group
Paramount Group is one of South Africa’s leading defence systems contractors, providing defence, peace-keeping and internal security solutions to government agencies worldwide. The Group’s ‘Nemo’ family of armoured and mine protected vehicles are designed and developed in South Africa, and incorporates the Paramount Group’s double-skin spaced armour hull technology which provides class-leading ballistic and mine blast protection, fully certified by independent test authorities. www.paramountgroup.biz

About the Hinduja Group
Hinduja Group is an investment and banking group with a diversified global portfolio of holdings across the manufacturing services and banking sectors. The Group, founded by Shri P.D. Hinduja in 1914 has activities across three core areas: Investment Banking, International Trading and Global Investments. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation. As part of its Global investments, the Group owns businesses in Automotive, Information Technology, Media, Entertainment & Communications, Banking & Finance, Infrastructure Project Development, Chemicals & Agri business, Energy, Real Estate, Trading and Healthcare.

To know more about the Hinduja Group and our Group Companies, please visit us at www.hindujagroup.com.

About Ashok Leyland
Ashok Leyland is the flagship of the Hinduja Group and a leading manufacturer of commercial vehicles in India with 08-09 turnover of US $ 1.3 billion. With six manufacturing locations at Chennai, Hosur (three plants), Alwar and Bhandara, the Company has a production capacity of 100,000 vehicles, which will shortly touch 1,50,000 vehicles with the integrated plant at Pant Nagar (Uttarakhand) going on stream shortly. Ashok Leyland has associate companies in the Czech Republic and the UAE and a joint venture in Sri Lanka, besides exports to over 30 countries worldwide. www.ashokleyland.com