Autoinfoz » India Car News » Hindustan Motors » Hindustan Motor in progression to give up Chennai car plant
 



Hindustan Motor in progression to give up Chennai car plant

1 April, 2014
Bookmark and Share

CK Birla Group company Hindustan Motors is at the present time getting supports from moneylenders and Tamil Nadu government for proposal to handover the ownership of its Chennai auto plant to a separate substance - Hindustan Motor Finance Corporation - as a component of plan to cut down trouble.

In supersession of January 5, 2014 Working Arrangement Agreement, the organization had given over ownership of the auto plant at close-by Adigathur to Hindustan Motor Finance Corporation Limited, the company said in a BSE fillings.

Hindustan Motor in progression to give up Chennai car plant

"The necessary approvals of the lenders and the Tamil Nadu Government with respect to the transfer and other necessary approvals as may be required are under process", it said.

Early not long from now, the shareholders of the Kolkata-based organization gave their nod for raising about Rs 150 crore by method for deal or lease of the auto plant.

The vexed auto creator has been seeing immense misfortunes and the business of the organization was in "strain" because of easier deals volumes.

Meanwhile, the company was taking a gander at cutting losses by demerger of Chennai plant to a separate organization - Hindustan Motor Finance Corporation Ltd.

Hindustan Motors at present has two offices - one at Uttarpara in West Bengal and Chennai plant.

While the organization fabricates the popular Ambassador and light business vehicle Winner at Uttarpara, it makes premium SUV Pajero Sport, premium car Cedia, and extravagance Suvs Outlander and Montero, at the Chennai plant, as a team with Japanese automaker Mitsubishi Motors.

Japanese auto producer Isuzu Motors entered into a contractual concurrence with Hindustan Motors for contract collecting of Completely Knocked Down (CKD) units of Isuzu's games utility vehicle MU-7 and pick-up truck D-Max from the Chennai plant.

By Abhishek
Total Views : 478  
 
 
Post a Comment



   
Rate this post :  
   
 
Verify Code : *
   
 
 


 
Recent Post
Toyota aims to introduce mid-size sedan for India to undertake Honda City
City, Grand i10, Celerio, Zest waiting period extends to 4 months
Audi 2015 Autumn Collection launched in the presence of Katrina Kaif
Maruti Suzuki plans to make hybrids technology at affordable offers on cars from Alto to Swift hatchback
Honda CR-V facelift released prior to probable Paris debut
Mercedes-Benz C-Class plug-in hybrid at 42.5kmpl released
Next Generation Nissan Micra expected to launch in overdue 2016
Mahindra & Mahindra Begins pre-booking of Scorpio via Snapdeal partnership
Maruti Suzuki Appointed RS Kalsi as head of domestic marketing & sales
Pajero Sport Limited Edition on special offer for just Rs 23.99 lakh
 
Auto Expo 2017
Fiat Auto Expo News (1)
Mahindra Auto Expo News (1)
Toyota Auto Expo News (1)
Skoda Auto Expo News (1)
Nissan Auto Expo News (1)
BMW Auto Expo News (1)
Hyundai Auto Expo News (1)
Jaguar Auto Expo News (1)
Honda Auto Expo News (1)
Car News Auto Expo News (7)
    

Company News
Ashok Leyland News (7) Aston Martin News (4) Audi News (38) Bajaj News (3)
Bentley News (1) BMW News (53) Chevrolet News (27) Datsun News (6)
Ferrari News (4) Fiat News (20) Force News (2) Ford News (44)
Hindustan Motors News (4) Honda News (2) Honda News (72) Hyundai News (66)
Hyundai Elantra News (2) Isuzu News (5) Jaguar News (22) Jeep News (2)
Kia News (1) Lamborghini News (9) Land Rover News (10) Lexus News (1)
Mahindra News (50) Mahindra Renault News (1) Mahindra Reva News (3) Maruti Suzuki News (116)
Mazda News (4) Mercedes-Benz News (63) MINI News (2) Mitsubishi News (7)
Nisaan Cars News (3) Nissan News (55) Porsche News (14) Renault News (38)
Rolls-Royce News (3) Skoda News (36) Tata News (88) Toyota News (41)
Volkswagen News (50) Volvo News (12)
 
Other Category News
Car News News (10) Hyundai Elantra News (1)
 
 
 
 
Autoinfoz
Top Cars Models in India