Tri-ring Group, Ashok Leyland sign sourcing deal

Shanghai, January 12 (Gasgoo.com) Ashok Leyland Ltd, India's second-largest commercial vehicle maker, has signed a memo of understanding with China's Tri-ring Group, an auto parts conglomerate of the Hubei province, for sourcing and extension of supply chain back in November 2008, a company press material said.

A high-level Chinese government delegation from Hubei province went to visit Ashok Leyland at that time, when Vinok K Dasari, WTO Ashok Leyland and Shu Jian, President of the Tri-ring Group signed agreement in the presence of senior company and government officials of both sides. Agreement details are not available yet.

Tri-Ring Group is a large state-owned enterprise with total assets of 2.9 billion yuan ($425 million). The company mainly engages in manufacturing special trucks, auto parts, forging and pressing machine tools as well as other products.