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TAL Manufacturing Solutions transfers defence business worth Rs 625 cr

Tuesday, 02 Apr 2019

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Tata Motors has sold its stake in subsidiary TAL Manufacturing Solutions to sister concern Tata Advanced Systems (TASL) for Rs 625 crore for the aerospace business.

Tata Motors has also acquired non-aerospace business from TAL Manufacturing Solutions (TAL) for Rs 10 lakh. TASL is wholly-owned subsidiary of Tata Sons and the strategic arm of the Tata Group.

The company is setting up its new armouring unit at IMT, Rohtak, Haryana with capital expenditure of Rs 50 crore, which is expected to be operational by December 2019.