Force Motors said on Tuesday that it has agreed to reduce the term of the licence granted by Germany?s ZF Friedrichshafen to make gear boxes in India. The Pune-based auto major would be entitled to e8 mn in compensation for reducing the licence term.
?This is inspite of the efforts made by the company to absorb technology, develop processes and supplier base, indigenise parts of gear boxes and develop quality processes to manufacture gearboxes,? the company said in a statement to the BSE. More
Courtesy: indiacar.net
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