Hinduja Group flagship company, Ashok Leyland’s JV - Ashok Leyland John Deere Construction Equipment Company has entered into a memorandum of understanding (MOU) with Corporation Bank. As per the MOU, the bank will offer the JV Company's customers finance at competitive terms.
With this MOU, it will help the bank to further enlarge its funding support to SME/priority sector customers as well as strengthen its bonds with the Ashok Leyland Group.
Ashok Leyland John Deere Construction Equipment Company is a JV between Ashok Leyland and John Deere Construction & Forestry Co, USA. Last month it had launched their first equipment vehicle - the 435 Backhoe Loader. Further, the company has commenced operations at their facility at Gummidipoondi in Thiruvallur district of Tamil Nadu with the manufacture of Backhoe Loaders.
