Eicher to sell tractor division for Rs 310cr

Eicher Motor's board, at its meeting held today, has approved the company's sale of  tractors, engines and gears division to TAFE Motors and Tractors - a wholly owned subsidiary of Tractors and Farm Equipment.

According to a release issued by Eicher Motors to the BSE, the company, subject to the shareholders approvoal, is planning to sell the above mentioned divisions for a consideration of Rs 310 crore.

The board has also given its nod to acquire a US based company engaged in computer aided engineering and design services with an investment up to $2.5 million, the release said.