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Tata Motors Limited (TTM)
Pre-Market:
- Benzinga
Tata Motors Acquires Ford India's Sanand Plant For $91M
Tata Motors Limited (NYSE: TTM) Tata Passenger Electric Mobility Limited (TPEML) and Ford Motor Co's (NYSE: F) Ford India Private Limited (FIPL), have signed a Unit Transfer Agreement (UTA) for the acquisition of FIPL's manufacturing plant situated at Sanand, Gujarat. The acquisition includes entire land & buildings, the Vehicle Manufacturing Plant along with machinery and equipment situated therein, and the transfer of all eligible employees of FIPL's vehicle manufacturing operations at Sanand,
- Reuters
Tata Motors to buy Ford India's manufacturing plant for $91 million
"With our manufacturing capacity nearing saturation, this acquisition is timely and a win-win for all stakeholders," Tata Motors said in a statement. Ford had less than 2% of the Indian passenger vehicle market when it stopped production in the country last year, having struggled for more than two decades to generate profits.
