Commercial vehicle maker Eicher Motors Ltd(EML) today said that the Board of Directors of the company at its meeting held on May 24, 2008, has approved draft of definitive agreements to be executed with AB Volvo, Sweden (Volvo).


</p><tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>The agreement is to carry out commercial cehicles business along with components and engineering design services business through EML's step down subsidiary, Eicher Motors India Ltd (a JV Company). </P>
</p><p class='TableClas'>Eicher Motors Managing Director, Siddhartha Lal has been authorised for execution of the same. The definitive agreements are proposed to be executed today i.e. May 26, 2008.</P>
</p><p class='TableClas'>On May 16, the Foreign Investment Promotion Board (FIPB) had cleared a proposal by AB Volvo to pick up 8.1 per cent stake in Eicher Motors for $30 million. </P>
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Eicher approves agreements with Volvo

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