Leyland to buy US-based DTE for Rs 70cr

Hinduja Group's flagship company Ashok Leyland will acquire US-based automotive testing services company Defiance Testing and Engineering Services, Inc (DTE) for over Rs 70 crore.

According to a release issued by Ashok Leyland to BSE today, the company has signed a share purchase agreement to acquire 100% of the paid-up capital of DTE.

Ashok Leyland through its subsidiary, Ashley Design and Engineering Services Division (ADES), already provides design and engineering services to the automobile industry.

The acquisition of the testing facilities of DTE, located near Detroit, would help ADES enlarge it existing customer base and serve leading automakers in the US.