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Archive for the 'Tafe' Category

Eicher’s fundamentals pump up valuation

Published December 10th, 2007 in volvo, Eicher motors and Tafe. 0 Comments

For a David in a market of Goliaths, Eicher manages to attract a great deal of respect both from its domestic as well as global rivals. Its valuation luck held out when Tafe bought its tractor business for Rs 310 crore two years ago. Although the exact valuation of the 8% that Volvo is picking up in Eicher Motors isn’t confirmed, the buzz is that the premium is fairly decent.
More
Courtesy:economictimes.indiatimes.com

Caparo plans luxury bus facility near Chennai

Published October 6th, 2007 in Tafe. 1 Comment

Caparo Vehicle Products, a unit of the Caparo group of Lord Swraj Paul, is planning to put up a facility “to manufacture high-end luxury buses and special vehicles” near Chennai. According to sources, this may require an investment of about Rs 80 crore. Also coming up at Chennai are an R&D centre “to design and manufacture dies/tooling fixtures and testing rigs, and offer product development and phototyping” and a consultancy services division for automotive and aerospace industry, the literature says.

At a press conference here today, Mr Angad Paul, CEO, Caparo Plc, and Chairman, Caparo India, said that the group would invest at least Rs 1,000 crore in Tamil Nadu. More
Courtesy:www.indiacar.net

TAFE, City Union Bank enter into tie-up

Published September 30th, 2007 in Mahendra&Mahendra and Tafe. 0 Comments

Tractor manufacturer TAFE today shook hands with City Union Bank over an agreement under which the bank will provide quicker and easier finance for those who buy the company’s tractors.

A farmer could avail himself of a loan paying only 5 per cent of the tractor’s cost upfront. A typical loan arrangement will be for an interest rate of 11.75 per cent and a period of seven years.

For TAFE, which is the country’s second largest tractor manufacturer (after Mahindra & Mahindra), this is not the first agreement with a bank, but for City Union Bank it is the first and the only one with a tractor company. More
Courtesy:www.indiacar.net

TAFE mulls Yugoslavian tractor buyout

Published August 6th, 2007 in Tafe. 0 Comments

Chennai-based Tractors and Farm Equipment (TAFE), India’s second-largest tractor manufacturer, is eyeing a big-ticket acquisition in Europe. TAFE is in negotiations with two east European tractor firms for a global footprint in the farm equipment sector. According to industry sources, TAFE is eyeing Yugoslavian tractor majors Industrija Masina Traktora and Industrija Motora Rakovica, one of the largest tractor makers in Serbia. More
Courtesy:economictimes.indiatimes.com

TAFE Power sets up battery plant near Chennai

Published July 9th, 2007 in Tafe. 0 Comments

TAFE Power Source, a division of Tractors and Farm Equipment Ltd (TAFE), has set up a battery manufacturing plant at Maraimalainagar with an investment of Rs 100 crore. This is TAFE Power’s third facility and was inaugurated on Friday by the Chief Minister of Tamil Nadu, Mr M. Karunanidhi.

TAFE Power manufactures packaged power, and is a unit of the Amalgamations Group. The company currently has two plants — one exclusively for motorcycle batteries and another for automotive and industrial batteries. Between them, the two plants have a capacity to produce 7 million batteries a year.
The new plant will produce Valve Regulated Lead Acid (VRLA) batteries. TAFE Power has tied up with “BB Battery Co Ltd”, China, for technology. The Chinese company has committed to buy 25-30 per cent of the new plant’s capacity, of 3 million batteries. More
Courtesy:www.indiacar.net

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