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Iveco aims to curry favour
Page 14
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Iveco aims to expand its market in the East and has signed a new
deal with a huge Indian truck firm.
Oliver Dixon reports.
IVECO AND THE Hinduja Brothers joint owners of 51% of Ashok Leyland — have signed a new shareholder agreement to enhance the co-operation between the Italian and Indian OEMs.
One likely result of the inereasLngly close ties between the two Firms will be Ashok Leyland entry into the Chinese market Iveco already has joint ventures in China: with Yuejin Motor Group for light CVs and gearboxes; and with Changzhou Bus for buses, coaches and chassis.
During December 2004 Iveco's )arent Fiat announced a deal -ietween SAIC and Iveco. but furher details have yet to be released.
Other territories likely to be explored include Iran and Russia. Nem has enjoyed considerable ..,xport success in Iran over the past :ew years. and it has developed a relationship with the manufacturer Ural az based in Miass. Russia.
Taking advantage of an existing deal means that Ashok Leyland would not have to not make the large investment normally demanded from new entrants to the Chinese market. Similarly. Iveco is keen to boost its presence in China. and adding Ashok Leyland to its armoury would do much to raise its profile in this increasingly important market.
A clash between the two partners could flare up the Middle East. Ashok Leyland recently clinched deal to supply 3.322 trucks to Iraq and 100 trucks to Sudan, with possible options for the supply of 1,000 vehicles a year. Iveco also has a strong presence in the Middle East, with strong sales in the Gulf, most notably in Saudi Arabia and Kuwait.
• For more on the Indian CV market see next week's GM. DORKING-BASED Johnston Sweepers has been bought by a Swiss rival, Bucher Industries.The £20.5m sale follows Johnston Group's acquisition by quarrying and aggregatescompanyEnnstone last October.
Ennstone's interest in Johnston was focused around its quarrying and concrete pipe businesses, and a disposal ol its sweeper arm always looked likely.
Bucher is a long established sweeper and municipal vehicle manufacturer, with factories stretching from Germany to Korea. Johnston's manufacturing operations in Surrey. Kent and Denmark are expected to continue unaffected by the new owner.