JBM Auto Ltd has informed BSE that the Company has entered into a Joint Venture Agreement with Ashok Leyland on May 09, 2008 at Chennai for supplying of sheet metal components for their G90 Cab and G-90 FES.

The Joint Venture will set up state of art facilities at Pant Nagar, Uttarakhand at an estimated investment of Rs 100 crores. The Joint Venture will have large pressing and welding facilities. Ashok Leyland, a commercial vehicle giant, is setting up integrated facilities at Uttarakhand.

JBM Auto Ltd will hold 74% while Ashok Leyland will hold 26% in the Joint Venture. The commercial operations will start from 2010 in line with the Ashok Leyland plan for the production of Commercial Vehicles.