Financial Daily from THE HINDU group of publications
Monday, Oct 31, 2005


Group Sites

Corporate - Announcements

Ford to pump $75 m into Indian venture

Our Bureau

Chennai , Oct. 30

FORD Motor Company has said that it will infuse $75 million (about Rs 330 crore) as equity in its Indian subsidiary "to support further growth in the important Indian market," according to a press release from Ford India Pvt Ltd.

The release quoted Mr Arvind Mathew, Managing Director and President, Ford India, as saying: "To support the aggressive growth strategy we have in place, Ford India will be augmenting its subscribed capital. Ford India has received approval from Ford Motor Company for an additional equity infusion of $75 million to meet the needs of our future plans."

During his recent visit to India, when he launched Ford India's premium sedan, Fiesta, Ford Motor Company's Chairman and CEO, Mr William Clay Ford Jr, said the company would increase its investments in India.

Ford India with a present investment of $375 million in its facility at Maraimalai Nagar, about 45 km south of Chennai, is in its ninth year of operations.

It started as a joint venture with Mahindra & Mahindra Ltd and became Ford Motor Company's wholly owned subsidiary in March 2005 after divestment of its crossholding portfolio in Mahindra & Mahindra, the release said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Tata Safari Dicor

Stories in this Section
Kohler India launches LPG-based generators

Maruti to increase Swift production
Southern Online Bio gets BSE trading nod
GM to hike prices of Tavera, Optra
TELK bags Rs 14-cr order
Ford to pump $75 m into Indian venture
Orchid Chem raises $75 m thru GDRs
Bhagyanagar Metals plans FCCB issue to set up IT park — To carve out 3 separate cos
Khaitans to merge WTA into McLeod Russel — Co boards meeting today
ONGC Tripura Power may see change in equity structure
Nicholas Piramal buys Avecia for Rs 76 cr
NRI group sets up pilot plant to process vanilla
Thekkady resort project
VSP expansion likely to be cleared today
Pricol to set up unit in Indonesia
Tuticorin port, NLC tie up for thermal plant
BHEL, Alstom pact
Payments to IOC — Nepal Govt comes to NOC's rescue again

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line