Ford India to Sell its Gujarat Plant for Rs.725.7 Crore to Tatas
CEOInsights Team, 0
In a regulatory filing on Sunday, Tata Motors the parent of Tata Passenger Electric said the Ford India's plant in Sanand in Gujarat includes(i)Entire land & buildings;(ii)Vehicle Manufacturing Plant along with machinery and equipment situated and (iii) Transfer of all eligible
employees of Ford India's vehicle manufacturing operations.
The Ford India will continue to operate its powertrain manufacturing facility by leasing back the land and buildings of the powertrain manufacturing plant from Tata Passenger Electric. The Tata Passenger Electric has agreed to offer employment to the eligible employees of Ford India's power train unit when the latter stops such operations.
Meanwhile, the fate of Ford India's plant near Chennai continues to be in suspense.
The Ford India will continue to operate its powertrain manufacturing facility by leasing back the land and buildings of the powertrain manufacturing plant from Tata Passenger Electric. The Tata Passenger Electric has agreed to offer employment to the eligible employees of Ford India's power train unit when the latter stops such operations.
The Ford India will continue to operate its powertrain manufacturing facility by leasing back the land and buildings of the powertrain manufacturing plant from Tata Passenger Electric
Meanwhile, the fate of Ford India's plant near Chennai continues to be in suspense.