Automobile Corporation Of Goa Ltd

Automobile Corporation Of Goa Ltd

Jointly promoted by the Economic Development Corporation of Goa (EDC) and TELCO the Automobile Corporation of Goa is a major supplier of pressed parts and bus bodies to TELCO. In 1984-85 demand picked up resulting in higher capacity utilisation and the company turned around netting a profit of slightly over Rs 1 cr. Continuing the process it added new components for various models of Tata vehicles. Its present products have also been improved through the value-addition resulting in a noticeable improvement. With the automobile industry maintaining the tempo ACGL is poised for better days. In fact with Telco projecting a significant increase in production over the next five years ACGL is gearing up to meet this increased demand. Further the growing prosperity of potential consumers and the increasing number of comfort-seeking travellers augurs well for the bus body division. In future Tata vehicles will also be fitted with Cummins engines to meet international regulations boosting the company's export potential. So with improved prospects on both domestic and the export fronts ACGL can look forward to improved capacity utilisation in the bus division. Last but not the least ACGL's ownership pattern witnessed certain major changes recently. Tata Exports bought a significant portion of the equity stake (around 21%) from EDC and is now he single largest shareholder. Together with the 10% holding of TELCO the Tata group companies now have nearly a 31% stake in the company.The company plans to introduce the monocoque bus project which is expected to be commissioned over the next two years.The company has received GOI approval for a technical collaboration agreement with Neway Anchorlok International Inc Muskegon USA to manufacture the NAI branded Air Suspension Systems in India. The company also entered into an Memorandum of Understanding with Piaggio Greaves Vehicles Ltd to fabricate and supply complete delivery cab for their modern range of three wheeler delivery vehicle.