International BusinessAshok Leyland JV to produce die castings
Commercial vehicle manufacturer Ashok Leyland’s associate company, Ashley Alteams India Pvt Ltd (AAIPL) will commence manufacturing high pressure die castings. The production of the castings, which will primarily be for the telecommunications and automotive sector, will begin next month at the company’s new facility in Chennai.
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AAIPL is a joint venture that was formed in 2007 between Finland’s Alteam Group and Ashok Leyland, which is owned by the Hinduja Automotive Ltd (HML). Alteam is a major telecommunication component supplier to Nokia.
HML has committed an investment of Rs 175 crore in the first phase of the new plant, entailing a work force of 1,000 employees engaged both directly and indirectly in the company’s operations. “The new business will cater to the strong demand for high pressure die castings in the telecommunication industry and also for the automotive industry,” says Dheeraj Hinduja, Co-Chairman of Ashok Leyland.