Force, MAN sign deal for heavy trucks

Force, MAN sign deal for heavy trucks

Our Web Bureau / Mumbai May 08, 2006

Force Motors and MAN Nutzfahrzeuge AG signed their joint venture agreement for the production of heavy trucks on April 30, 2006, and the production line was inaugurated on the same day.

According to a release issued by Force Motors to the BSE today, the new company, Man Force Trucks (MFTPL), will produce the first vehicle for the Indian market from the Pithampur plant. "The production will achieve full local content by the last quarter 2006. While the company has a 70% holding in the joint venture, MAN Nutzfahrzeuge AG holds the remaining 30%. The volume of investment for the joint venture totals around euro 150 million. The heavy trucks to be built under the joint venture are intended initially for the Indian market, and for the whole of Asia and Africa from 2007," the release added.

"The partnership with Force will make MAN more international, and open up new growth markets for us. Together with Force, we are making an important contribution to the development of transport logistics in this emerging country and in the entire region," H