Leyland Deere signs MoU with Corporation Bank

Ashok Leyland John Deere Construction Equipment Company Pvt. Ltd. and Corporation Bank executed a Memorandum of Understanding (MOU), through which Corporation Bank will offers Leyland Deere’s customers’ finance at very competitive terms, pan-India. “With this MoU, Corporation Bank wishes to further enlarge its funding support to SME/Priority Sector customers as well as strengthen its bonds with the Ashok Leyland Group,” stated S. Pattabiraman, GM of Corporation Bank. “The excellent terms offered by Corporation Bank for our quality products will prove to be a win-win proposal for our mutual customers,” stated C. Anand, Vice President of Leyland Deere. Leyland Deere, a joint venture between Ashok Leyland, the Hinduja Group flagship and John Deere Construction & Forestry Co., USA launched their very first vehicle – the 435 Backhoe Loader – to the market last month and the same were displayed at the recently concluded Excon 2011 in Bangalore. It may be recalled that Leyland Deere has commenced operations at its facility in Gummidipoondi, Thiruvallur District with the manufacture of backhoe loaders.