Resurgence at Escorts Ltd
Tractor sales volumes at 47,612 up 83% on previous year annualised basis
Escorts Limited Divests Stake in Carraro India Limited for Euro 20 Million
New Delhi, 15th September 2006: Escorts Limited has signed an agreement with Carraro International S.A., a group company of Carraro S.p.A. to divest its 49% shareholding in Carraro India Limited, a joint venture between Escorts Limited and Carraro S.p.A. This divestment in turn would help Escorts Limited realize Euro 20 million at the current rate of exchange.
Escorts Ltd. sets up Rs. 25 Crores facility in Uttaranchal for manufacture of Auto Components and Railway Equipment
New Delhi, 13th September 2006: Escorts Limited a leading manufacturer and supplier of Agri Machinery Products, Auto Suspension, Ancillary Products and Railway Equipment is setting up a manufacturing facility, with an investment of Rs.25 crores, at Integrated Industrial Estate, Pantnagar, Uttaranchal. It will manufacture auto components and railway equipment and add to its existing product portfolio.
Darby’s Second Asia Mezzanine Fund makes Investment in Escorts Construction Equipment Ltd.
Infusion of Rs.750 million to meet Escorts’ ambitious growth plans in its construction equipment business