Chennai, Nov 14 (UNI) Jamna Auto Ltd, a part of the JAI Group and leading producer of commercial vehicle springs, today announced the acquisition of Tata Motor's leaf-spring plant at Jamshedpur.
Addressing a press conference here, Jamna Auto CEO Randeep Jauhar said the company had acquired the assets of Tata Motors, including the plant, machinery and inventory for setting up a new plant.
The new manufacturing facility for leaf and parabolic springs to be set up at Jamshedpur would be utilised for supplying to Tata Motors World truck project and for export purpose, he said.
He said the acquisition and the new facility would help the company to achieve its objective of entering the exports market in the future.
Jamna Auto Industries, a part of JAI group, which has another company, Jai Parabolic Springs Ltd (JPSL), which produced leaf and parabolic springs and had a plant in the city.
MAP Springs, a marketing outfit for springs and auto products, was also a part of the JAI group and Jamna Auto had decided to merge JPSL and MAP Springs with itself to build economies of scale and drive benefits of operating synergies, he said.
After the merger, the combined capacity would rise to two lakh tonnes, of which, the capacity of parabolic springs would be 30,000 tonnes, he said.
The company was looking for few more acquisitions, mainly in Europe, he added.