Polyhose takes over Ashok LeylandJohn Deere CE plant
Hydraulic component maker Polyhose has acquired the Chennai construction equipment facility of Ashok Leyland and John Deere Joint Venture (JV). A leading manufacturer of high pressure thermo-plastic hoses and abrasives, Polyhose plans to expand its footprint in the manufacture of hydraulic attachments for construction and agriculture equipment industry. With Ashok Leyland focusing heavily on its commercial vehicle business, the company is gradually exiting divisions that are under-performing. The 50acre site that Polyhose has acquired, includes a building, plant and machinery. Operations are expected to commence in the next three months. Depending on the requirement, Polyhose is expected to increase the manpower count from the current 200 to 500 in the near future. Polyhose aspires to cross Rs.1,000 crore revenue mark from the current Rs.700 crore revenue by year 2020.