Ashok Leyland and a Finnish company have launched a joint venture named Ashley Alteams. The 50:50 JV came to life in Cheyyar, near Kanchipuram in Tamil Nadu.

The Finnish company is a light cast metal component maker and the JV will be producing aluminium high pressure die cast components.

The clientele of Ashley Alteams will include big names like Nokia Siemens Network, Knorr Bremse and Cummins and Ericsson. It would also supply parts to Ashok Leyland.

The new facility will have an annual capacity of 7,000 tons which will later be increased up to 10,000 tons. The whole venture is expected to have total annual sales of Rs. 180 crore. And within five years it is expected to touch Rs.
500 crore.

Talking on the occasion, Chairman of Ashley Alteams R Seshasayee said that the HDPC technology that the plant will be using, has huge export market. Its demand is mostly in the automotive field and that the company will be looking at the overseas market in some time.

Alteams OY, is the name of the Finnish company, which is a part of Kuusakoski Group.