September 14, 2016: The Board of Directors of Hinduja Foundries Limited (HFL), a Hinduja Group company, who are in the business of grey iron castings and supply of automotive components, has unanimously approved the proposal of amalgamating HFL with Ashok Leyland Limited (AL), subject to various regulatory approval and approval of shareholders of both the companies.

Commenting on this development, Mr Vinod K Dasari, Chief Executive Officer and Managing Director, Ashok Leyland, said: “We welcome Hinduja Foundries into the fold of Ashok Leyland Limited. The amalgamation will result in operational efficiencies and help realize significant cost synergies. We are confident that the roll out of the best practices of Ashok Leyland Limited will benefit Hinduja Foundries Limited. While it is a critical supplier to Ashok Leyland Limited will continue its focus to grow its relationships with other customers. In fact the new arrangement will help in providing a wider range of solutions to them. There is so much more Hinduja Foundries can do under the new arrangement”.