Science

Force Motors rallies 5% on forming JV with Rolls-Royce Power Systems

Force Motors rallies 5% on forming JV with Rolls-Royce Power Systems”

Force Motors on Tuesday announced that it has partnered with Rolls-Royce to form a joint venture company to produce engines.

Meanwhile, the stock gained 3.62% at Rs 4,236 per share, attracting a total traded quantity of 1.71 lakh shares.

Bergen Engines managing director Jeff Elliott said: "Bergen Engines delivered its first Rolls-Royce genset engine to Bangladesh way back in 2001, and has since built power stations covering more than 5% of the country's overall power supply".

The joint venture will produce complete power generation systems including associated spare parts for Indian as well as global markets.

Under the partnership, the Pune-based firm will set up a a dedicated manufacturing facility meeting the standards and specifications laid down by Rolls Royce at Chakan near Pune.

Rolls-Royce Power Systems subsidiary Bergen Engines has signed a set of contracts with a combined value of €133m to deliver two power stations in Bangladesh.

Force Motors is the only company in the world that produces engines for two of the leading European premium auto makers Mercedes and BMW.

Force Motors is an integrated automobile company, which focuses on design, development and manufacture of automotive components, aggregates and vehicles in India. Its range includes Small Commercial Vehicles, Multi-Utility Vehicles (MUV), Light Commercial Vehicles (LCV), Sports Utility Vehicles (SUV) and Agricultural Tractors.



Like this

loading...
loading...

Latest


12 September 2017
DA hiked to 5% from 4% for central govt employees and pensioners
After the decision, central government staff will now get a dearness allowance at 5 per cent in proportion to their basic salary. The additional 1% DA and DR, under the 7th Pay Commission, will be applicable from July 1, 2017.

12 September 2017
CN again lands on Dow Jones Sustainability Index
As a patient-driven firm, they consider strong research must be matched with a strong commitment to the communities they serve. For the 2017 assessment, the world's largest 3,500 companies from developed and emerging markets were invited to take part.

12 September 2017
Wells Fargo & Company (WFC) Stake Decreased by Investment Management of Virginia LLC
Ameriprise Financial, Inc.is a financial services firm that offers financial solutions to individual and institutional clients. Caisse De Depot Et Placement Du Quebec holds 0.34% of its portfolio in Wells Fargo & Co (NYSE:WFC) for 2.42 million shares.

12 September 2017
Taiwan issues sea warning for Typhoon Talim
Services to and from Green Island (綠島) and Orchid Island (蘭嶼, Lanyu) are to be suspended from tomorrow until Thursday, the EZ Boat Web site said.

12 September 2017
CBFC passes Pahlaj Nihalani's 'Julie 2' without cuts
Directed by Deepak Shivadasani, Julie 2 revolves around a struggling actress and her tryst with showbiz. But Julie 2 - itself a sequel to a controversial 2004 film starring Neha Dhupia - has never been shy.

12 September 2017
In Setback for Murdoch, UK Regulators to Review Sky Takeover
A referral on the grounds of media plurality had been expected but the likely prospect of the second referral was a surprise. However, in its latest update, Ofcom clarified it did have "non-fanciful concerns" on broadcasting standards.

12 September 2017
9 dead in Plano shooting that erupted during Cowboys watch party
The police officer has been placed on paid administrative leave as authorities investigate his opening fire on the gunman. Police say one person shot seven people and injured two others at a Cowboy's watch party Sunday night around 8 o'clock.

12 September 2017
Little Barrie drummer Virgil Howe dies
Formed in 2000, Little Barrie are now best known for writing the theme tune to " Breaking Bad " spin-off " Better Call Saul ". Due to the tragic, unexpected death of guitarist Steve Howe's beloved younger son, Virgil , YES regrettably announces...

12 September 2017
Pope Francis: Climate Change Deniers 'Stupid' After Hurricanes
During the presidential campaign past year , the pontiff said a person "who only thinks about building walls" is "not Christian". Trump said last week he had made a decision to terminate the Deferred Action for Childhood Arrivals program in six months.

12 September 2017
Customs intercepts 1100 smuggled rifles at Tin-Can Island
Hameed Ibrahim Ali (Rtd) displays the seized rifles at a Press Conference in TICP, Lagos today Monday 11th September, 2017. NCS spokesman, Joseph Attah revealed that the weapons were imported from Turkey.