Livemint: September 12, 2017
New Delhi: Force Motors Ltd has tied up with Rolls-Royce Power Systems AG to form an Indian joint venture company to produce engines for power generation and rail application.
Under the joint venture, Force Motors will produce complete power generation systems, including associated spare parts for Indian and global markets, the company said in a BSE filing on Tuesday.
Force Motors has entered into a non-binding term sheet with Rolls-Royce Power Systems to create the joint venture.
Force Motors plans to build a dedicated facility under the joint venture at its existing premises at Chakan, Pune, according to the filing.
At 12:40pm, Force Motors shares were trading at Rs4,252 apiece, 4% higher than precious close, while the benchmark Sensex index was up 180 points, 0.56% higher at 32,062.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.