India's Tata acquires Nissan's plant in South Africa
Tuesday, 07 November 2006, 20:30 IST
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New Delhi: After clinching a mega deal for their steel business, India's leading corporate house Tatas have now acquired Japanese auto conglomerate Nissan's manufacturing unit in Pretoria, South Africa. "The acquisition has been done by Tata Africa Holdings," said Debasis Ray, head of corporate communication, Tata Motors Ltd. He, however, refused to give details of the nature of the deal. Headquartered in Johannesburg, Tata Africa Holdings is the group's dedicated enterprise looking after all Tata activities in the continent. Tata Motors already have strong presence in the South African market, having sold over 16,500 vehicles there in 2005-06. Last month, $5.5 billion Tata Motors introduced a whole range of commercial and passenger vehicles in the South African market. In the passenger vehicle segment, it will also launch Safari Dicor in the South African market by early 2007.
Source: IANS
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