12 May 2008

(RTTNews) - Monday, JBM Auto said that the company entered into a joint venture agreement with Ashok Leyland for supply of sheet metal components for their G90 Cab and G-90 FES.

The joint venture company would set up state of art facilities at Pant Nagar, Uttarakhand at an estimated cost of Rs.100 crores and would have large pressing and welding facilities.

JBM Auto would hold 74% and Ashok Leyland would hold the rest in the joint venture that would start commercial operations from 2010.

News Source: http://www.rttnews.com

12 May 2008

NRB Bearings Ltd, manufacturers of the widest range of bearings and automotive components, on May 07, 2008 inaugurated its new manufacturing facility at Pantnagar, Uttarakhand.

The modern manufacturing facility which was completed in a record time of 8 months was inaugurated by Ms. Harshbeena Zaveri, President of the company, at a ceremony which was attended by the company’s important customers including Tata Motors, Bajaj Auto, and senior officials from SIDCUL. The occasion was graced by Mr. Tilak Raj Behar, the Ex Minister & sitting MLA of Rudrapur (U.S. Nagar).

Mr. Tilak Raj Behar congratulated NRB Bearings for its first venture in Uttarakhand and wished it all Success; he hoped that it would be amongst the most important plants of the company in the coming years.

Ms. Harshbeena Zaveri, President of NRB Bearings Ltd, said “This plant at Pantnagar is part of our strategy to be located in close proximity to our customers and continually strive to be the most preferred bearing supplier to all our important customers.”

With an initial investment of Rs 25 crores, the facility will manufacture Ball & Roller Bearings for the domestic market. The facility spread over 5 acres, will have a capacity of producing over 22 million Ball & Roller Bearings over the next 3 years.

News Source: http://www.equitybulls.com