Tata Motors & Thonburi of Thailand set up Joint venture in Thailand for pickup trucks

Tata Motors Ltd has announced that the Company and Thonburi Automotive Assembly Plant Co. (Thonburi), the Thailand-based independent assembler of automobiles, on December 18, 2006 announced formation of a joint venture Company in Thailand to manufacture, assemble and market pickup trucks.

The joint venture agreement was signed on December 18, 2006 by the Managing Director of the Company Mr. Ravi Kant, and the Managing Director of Thonburi, Mr. Robru Viriyaphant.

The joint venture, in which the Company will hold 70% of the, equity and Thonburi 30%,. will get vehicles manufactured in Thonburi's manufacturing facility. It will go on stream in a year's time.

The joint venture will facilitate the Company address the Thailand market, the second largest pickup market in the world after the US. Both partners will jointly manage the operation. The pickup trucks will conform to international standards in quality and safety, and will be marketed in Thailand and exported to other potential markets in the region.

The Chairman of the Company, Mr. Ratan N. Tata, said, "Introduction at Tata Motors pickup vehicles and a manufacturing facility in Thailand provide a unique opportunity to the Company. We believe the joint venture will make meaningful impact in this most competitive market for pickup vehicles."

Source : Equity Bulls

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