Force Motors to buy MAN trucks factory

Force Motors is set to buy the MAN Trucks factory located at Pithampur in Madhya Pradesh for an undisclosed amount.

It has been reported that MAN Trucks India and Force Motors have entered into an agreement wherein the latter will acquire the manufacturing facility and continue to employ the existing workforce. According to Force Motors, the complete transfer of the facility is expected to take place by October 2018.

Earlier this year, it was reported that MAN Trucks had decided to stop all projects in India. The VW Group company had also halted its BS-VI projects and stopped purchasing components from suppliers as it started winding down its operations. The plant has an annual capacity of 9,000 units and produces trucks ranging from 16 to 49 tonnes.

Source: Economic Times