 "In Sri Lanka and Bangladesh, where ALL is a market leader but has been losing volumes, it has put up both assembling and manufacturing plants")
Ashok Leyland Ltd has incorporated a wholly-owned subsidiary Vishwa Buses and Coaches Limited with a capital of Rs 60 crore.
The new company will manufacture bus bodies and coaches. Meanwhile, Ashok Leyland said it had reduced its shareholding in Optare PLC, its UK subsidiary.
The new company will manufacture bus bodies and coaches. Meanwhile, Ashok Leyland said it had reduced its shareholding in Optare PLC, its UK subsidiary.
On Optare, Ashok Leyland said consequent to the conversion of loans by Hinduja Automotive Ltd, UK, into equity shares in Optare PLC, the company’s (Ashok Leyland Limited) shareholding in Optare PLC, stands reduced from 99.24% to 91.63%.
Optare PLC is engaged in the business of manufacturing and selling of buses.
Optare reported a loss of Rs
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