Ashok Leyland to Acquire Further Stake in Optare

Optare Electric Bus

Ashok Leyland, the Indian manufacturer of commercial vehicles, which, in July 2010, acquired a 26% stake in Optare – a British company manufacturing buses, double deck buses, and coaches – has announced that it would now increase its stake in the British company to 75.1%.

Dheeraj Hinduja, Chairman, Ashok Leyland said: “We are confident that together we can surge ahead with Optare taking advantage of the large opportunities for growth and  development we see based on synergy and integration with Ashok Leyland’s bus business.”

Jim Sumner, Chief Executive Officer, Optare, said: “This is great news for Optare’s customers, employees and suppliers and secures stability and the long-term future of the business.”

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