• Iveco has acquired a controlling 39% stake in the
12th November 1987, Page 8
12th November 1987
Page 8
Page 8, 12th November 1987
— • Iveco has acquired a controlling 39% stake in the
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Keywords :
Fiat, Rover, Ashok Leyland, Iveco, Hinduja Group, Hinduja Foundries, Rover Company, Rover Group
Indian truck and bus builder _ Ashok Leyland. In a joint venture with India's Hinduja Group, Nee° has bought the Ashok shareholding previously held by the Rover Group. Iveco-Hinduja has also acquired Rover Group's controlling 59% shareholding in Ennore Foundries.
In 1986 Ashok built 16,000 vehicles, while its combined turnover with Enfore Foundries amounted to £170 million.
The new venture will result in Iveco trucks and buses being built in India.
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Ashok Leyland