BOMBAY, May 25 (Reuters) - Indian commercial vehicle maker Eicher Motors Ltd. said on Wednesday its board had approved the acquisition of a U.S. engineering firm for $2.5 million. The board also approved the sale of Eicher's tractors and engine businesses to Tractors and Farm Equipment Ltd., a Madras-based firm, for 3.1 billion rupees, Ramesh Jain, managing director of Eicher's tractors unit, told Reuters. Shares in Eicher rose 10.8 percent to 357 rupees in a firm Bombay market.
Premium Content (PAID Subscription Required)
"Eicher Motors buys U.S. firm for $2.5 million" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.