Eicher Motors Ltd has informed that the Board of Directors of the Company at its meeting held on May 24, 2008, has approved draft of definitive agreements to be executed with M/s. AB Volvo, Gothenbury, Sweden (Volvo) to carry Commercial Vehicles Business (along with Components and Engineering Design Services Business) through EMLs step down subsidiary, namely. Eicher Motors India Ltd (JV Company) and authorized Mr. Siddhartha Lal, Managing Director for execution of the same. The definitive agreements are proposed to be executed on May 26, 2008.
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