Truck and bus manufacturing company Ashok Leyland has put in a bid for Punjab Tractors Limited (PTL). With the acquisition of PTL, Ashok Leyland intends to gain access in the tractor business. Ashok Leyland’s tractor foray is part of its bigger strategy of becoming an integrated automotive player.
The company has already been cranking up its component business and has set up a separate auto components division. It is also setting up a new gear manufacturing facility for its component business with special focus on third-party jobs.
Read The Economic Times article.
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