TELCO KEEN TO DRIVE TRACTORS, EYES HMT UNIT
Article Abstract:
A 5-member expert team of Tata Engineering and Locomotive Company Ltd (Telco) has visited the tractor unit of the Hindustan Machine Tools (HMT) at Pinjore for evaluating the plant. HMT will invest Rs16 crore in 1998-99 to raise the tractor production capacity of its Pinjore plant from 20,000 units to 26,000 units by March 1999. Telco plans to diversify into tractor industry as its main business divisions are facing problems. This Telco move has come when HMT is planning to divest a 51 percent stake in the Pinjore unit. (gs)
Comment:
Plans to acquire unit of Hindustan Machine Tools that manufacture tractors
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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M&M BUYS GTCL TRACTOR UNIT FOR Rs15.6 CRORE
Article Abstract:
The tractor unit of Gujarat Tractors Corporation Ltd (GTCL) has been purchased by Mahindra & Mahindra (M&M). GTCL has sold the Vadodara tractor unit for Rs15.6 crore. It has sold the shares at the rate of Rs20 per share. The acquisition is expected to help M&M to supplement its product range. The tractor plant has a capacity to produce 2,000 tractors per annum. The tractors produced are in the range of 20 hp to 80 hp. (ag)
Comment:
Acquires Vadodara tractor unit of Guajarat Tractors for Rs15.6 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TELCO TO GET Rs600 CR FROM SALE OF UNIT
Article Abstract:
Tata Engineering and Locomotive Company Ltd (Telco) will receive Rs200 crore as equity and share premium and Rs400 crore as loans from the sale of its construction equipment division. The division will be hived off into a 100 percent subsidiary called Telco Construction Equipment Company Ltd. The transfer of the division is effective from March 31, 1999. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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