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Anton Weinmann, chairman of the board of MAN Nutzfahrzeuge Group, and Abhay Firodia, chairman and manging director of Force Motors Ltd have signed a letter of intent ,for a Joint venture .The contracts, which will also include agreements about purchase ,development,produciton, and marketing ,will be worked in detail and signed during the first quarter of 2006.The start of production for the Indian market is planned for the same year.The proposed joint venture is about the manufacturing of Heavy Trucks .The Joint venturewill produce trucks for the entire Asian area.In medieum term a production of 24,000 vehicles annually is planned even if no export of vehicles to Europe is envisaged.Speaking on the occasion, Abhay Firodia said, "We have taken effective steps to establish a strong base to support this concept as we are convinced that the rapidly developing indian transport scenario can benefit greatly from the induction of vehicles based on the most fuel efficient, safe,reliable,and environment-friendly MAN Technologies."With Force Motors we are able to find a partner,with whom we are not only in a position to manufacture in MAN quality,but who also is ideally integrated into a network of Indian component suppliers.That means we will make a truck, which is optimised for the Asian markets produced completely form local components and at the same time will be based on proven MAN Technology", said Anton Weinmann.At the moment,MAN Nutzfahrzeuge group has licence agreements with Force Motors,for producing trucks in the range of 16to 25 tonnes.The planned Joint Venture is an important step for MAN Nutzfahrzeuge,for opening markets outside of Europe.
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| Posted : 12/16/2005 |
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