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Ashok Leyland scouts for acquisitions in Latin America

25 Oct 2010 Evaluate

As part of expanding its global footprint, Ashok Leyland, a Hinduja Group company is scouting for acquisition opportunities, mainly in the bus segment, in Latin America, North Africa and parts of Southeast Asia.

 

Currently, the company is in the global 16th position in CVs and number six in the bus segment. In terms of volumes, it will be 150,000 units of CVs and 40,000 buses, within five years. It is always open for new acquisitions, which would give access to technology, new markets and customers.

 

It has a strong hold in Saarc countries and West Asia and now it wants to focus on North Africa, South East Asia and Latin America. It will also look at the possibilities of brownfield expansion (of existing units).

 

In July, Leyland entered into an agreement with UK-based bus manufacturer Optare to acquire 26 per cent stake, for $7.5 million (Rs 33 crore). The acquisition will give access to technology, including a modern range of mid-size and full-size city buses which can appeal to both domestic and global markets.

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Peers
Company Name CMP
Tata Motors 434.35
Ashok Leyland 163.95
Force Motors 17705.00
Olectra Greentech 1210.30
SML Mahindra 6591.10
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