PIAGGIO PLANS TO MAKE INDIA MAJOR BASE FOR 3-WHEELERS
Article Abstract:
Piaggio of Italy has decided to make India into a major production and export centre for its 3-wheel autorickshaws. The company has a majority share in Piaggio Greaves, its new joint venture with Greaves India Ltd. The new plant of Piaggio Greaves at Baramati in Maharashtra is scheduled to begin production in 1999. Piaggio plans to manufacture up to 20,000 vehicles in 1999 and increase it to about 50,000 vehicles within 3 years. It will concentrate on producing 3-seater passenger, cargo and pick-up vehicles. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CITIBANK, MARUTI LAUNCH AUTOFINANCE JV
Article Abstract:
Maruti Udyog Ltd and Citicorp Overseas Investment Corporation have started a new joint venture finance company called Citicorp Maruti Finance Ltd. It will have an authorised share capital of Rs100 crore of which Citicorp will contribute 74 percent while Maruti will bring in 26 percent. The company will have an initial paid-up share capital of Rs60 crore of which Rs40 crore has already been brought in. The company will finance the purchase of both new and second-hand cars. (khr)
Comment:
Reaches deal w/ Maruti Udyog to start new joint venture finance co called Citicorp Maruti Finance
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CITIBANK TO FUEL MAFATLAL FIN AUTO FINANCE BUSINESS
Article Abstract:
Citibank is one of the leading foreign banks in the car financing sector. It has agreed to tie up with Mafatlal Finance Ltd (MFL) to provide financial support to the company for reviving its auto finance business. MFL is now restructuring itself. It will concentrate on its car financing segment. After revival, the auto finance business is expected to contribute about 80 percent to the total turnover of MFL. (gs)
Comment:
Agrees to tie up w/ Mafatlal Finance to provide financial support to the latter to reviving its auto finance business
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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