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MOTORINDIA
l
January 2012
Leyland Deere ties up with
Corporation Bank, IOB
Ashok Leyland John
Deere
Construction
Equipment
Company
Pvt. Ltd. and Corpora-
tion Bank have executed
a memorandum of under-
standing (MoU) under
which the bank will offer
Leyland Deere customers
finance at very competi-
tive terms, pan-India.
Leyland Deere, a joint
venture between Ashok
Leyland and John Deere
Construction & For-
estry Co. of the US, has
launched its very first ve-
hicle – the 435 backhoe
loader. Displayed at the recently-
held EXCON 2011 in Bangalore the
vehicle generated tremendous cus-
tomer response.
Leyland Deere has commenced
operations at its state-of-art facility
in Gummidipoondi, near Chennai,
with the manufacture of backhoe
loaders.
Mr. C. Anand, Vice President -
Marketing, Leyland Deere, said the
excellent terms offered by Corpora-
tion Bank for the company’s quality
products would prove to be a win-
win proposal for the mutual custom-
ers.
The company has also signed an
MoU with Indian Overseas Bank
(IOB) through which the bank can
offer finance at very competitive
terms to Leyland Deere’s custom-
vehicle finance
ers, pan-India.
IOB’s leadership in financing
SME/SRTO/Priority Sector custom-
ers will be further strengthened with
this relationship, stated Mr. K. Sub-
rahmanyam, General Manager of
the bank.
Mr. S. Pattabiraman, General Manager, Corporation Bank, and Mr. C. Anand, Vice Presi-
dent - Marketing, Leyland Deere, exchanging the documents after signing the MoU
With this MoU, Corpora-
tion Bank wishes to further
enlarge its funding sup-
port to SME/priority sec-
tor customers as well as
strengthen its bonds with
the Ashok Leyland Group.
– Mr. S. Pattabiraman, General
Manager, Corporation Bank
Attractive and transparent
terms of IOB, coupled with
Leyland Deere’ high qual-
ity products, will result in
customer delight,
– Mr. Anand, Vice President -
Marketing, Leyland Deere
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