Mumbai: Hinduja flagship company Ashok Leyland said it has made a strategic investment in Germany-based group firm Albonair GmbH for development of vehicle emission treatment systems and products.
“Ashok Leyland has made a strategic investment in Albonair GmbH for development of vehicle emission treatment or control systems and products,” the company said in a filing to the Bombay Stock Exchange.
The company, however, did not disclose any financial or other details of the deal.
Albonair is part of the Hinduja Group and an associate company of Ashok Leyland located at Dortmund in Germany.
It is the central hub for research and development, and also caters to the requirements of emerging markets to conduct local customer application development for vehicle and engine manufacturers, as per information available on the German firm’s website.
Shares of the company were trading at Rs 33.10, up 1.07% in early morning trade on the BSE.