Lanka Ashok Leyland PLC (LAL) has announced a partnership with SMB Leasing PLC (formerly the Seylan Merchant Bank Group) as part of the management’s strategic initiative to provide a total transport solution to the North and East.
The company said that given the surging demand for LAL vehicles in the North and East, LAL with SMB Leasing have earmarked for completion at least six sites for construction of modern workshop facilities by the end of 2010.
According to Mr. Umesh Gautam, CEO of LAL, “Lanka Ashok Leyland had just entered into an agreement with People’s Leasing Company for the supply of 1000 buses before 31st March 2011 with the majority set for delivery to the North and the East. This had expedited the need for Lanka Ashok Leyland workshops and spare parts facilities in the regions and the agreement with SMB Leasing will help facilitate such expansion.”
He said Lanka Ashok Leyland had held discussions with SMB Leasing on a holistic solutions model for the north and east, and was pleased with the company’s enthusiasm for the concept.