Polyhose acquires Ashok Leyland-John Deere JV facility

The company will invest Rs 100-120 crore into the new business

Polyhose Group, which has been manufacturing hoses for both the Indian and export markets, has acquired the construction equipment manufacturing facility of the Ashok Leyland-John Deere, joint venture, to foray into this segment.

John Deere is a US-based construction equipment major.
 

The group has a decade-long joint venture with Caterpillar Inc, in Polyhose India (Rubber), apart from some of the Japanese investments in the group companies.

The new business would start manufacturing allied products in three to six months, while it would start manufacturing construction equipment in less than a year, said Suryanarayanan, chief financial officer of the company.