Hinduja Group flagship company Ashok Leyland, on Tuesday, said it had sold its testing and engineering services arm, Defiance Testing & Engineering Services (DTE), to U.S.-based Exova for an undisclosed sum.
Commenting on the sale, Ashok Leyland Vice-Chairman V Sumantran said: “It is reflective of Ashok Leyland’s dynamic shift in strategic priorities aimed at enhancing the value of its business in the medium-term.”
DTE, located near Detroit, was acquired by Ashok Leyland in 2007. It provides testing and engineering services to manufacturers and suppliers in the passenger car, light truck, bus and military vehicle sectors.
Ashok Leyland’s separate entity focused on IT and engineering services, namely, Defiance Technologies Ltd. remains unaffected by this transaction, the company said in a statement.
In a separate statement, Exova said the move would add five specialist testing facilities and 75 personnel to Exova’s existing network of over 3,500 experts, and makes the company one of the leading providers of transportation testing services in North America. — PTI