Neoman Bus group signs JV for making bus coaches

Hannover, Apr 24 (UNI) Munich based NeomanBus Group today signed an agreement with Pune-based Force Motors Ltd for setting up a joint venture to build chassis and complete bus and coaches for the Indian and Asian markets.

The 70: 30 Joint Venture agreement was signed between Chairman of the management team of Neoman Bus GmbH Wolfgang Fahrnberger and Chairman and Managing Director of Force Motors Ltd Abha Firodia in the presence of Prime Minister Manmohan Singh and German Chancellor Angela Merkel.

The joint venture includes setting up of the development production in Madhya Pradesh and marketing of chassis and complete buses of the MAN and Force brands.''The start of production for the Indian market is planned for the end of 2007. From 2008 the joint venture will then produce chassis and complete buses for the entire Asian area,'' Mr Firodia told reporters after the signing of the letters of intent.

In India, the vehicles are to be marketed by the joint venture and outside India by the MAN organization. The medium-term goal is the production of 4,000 vehicles per year.

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