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| Sunday, 21 August 2005 |
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Ashok Leyland India to set up training school here by Elmo Leonard Ashok Leyland India has plans to set up a training school for heavy duty drivers, the benefits of which would be a saving of fuel of around 10 percent and the prevention of road accidents. The Indian company has a joint venture with the government of Sri Lanka, resulting in the establishment of Lanka Ashok Leyland Ltd (LAL) 23 years ago. LAL with a manufacturing plant in Homagama, holds a market share of 75 per cent of buses on the roads in the country. Chairman of the Indian corporate, R J Shahaney said that his company had trained over 100,000 drivers, under the Driving Training School, Namakal, south India and more recently in New Delhi. LAL also has plans to bring into the country double decker and articulated buses which it says will help cut down congestion of traffic, as in the Indian experience of using double decker buses on the roads in Mumbai. LAL has ended a ten-year no-dividend-run with the recommendation of a 100 percent dividend to its shareholders, for the year ended March 05. LAL called a press conference to also announce that the company had achieved a turnover of Rs. 3.56 billion (Rs. 100 to a US dollar) for the financial year ended March 05, 58 per cent over that of 03/04. The company's turnover had more than doubled over the past two years. Profit had also improved and the profit after tax had moved to Rs. 110 million for the financial year ended March 5. The higher results were achieved through strict cost control measures and reduction of interest charges through better utilisation of funds, LAL's chairman, A. N. Senanayake said. LAL, in addition to marketing buses and trucks also provides local value addition by building truck bodies, water tanks and special application vehicles. LAL's manufacturing plant is in Panagoda, Homagama. In addition to the popular Viking models with a seating capacity ranging from 42-62 seats, LAL has introduced air conditioned buses with air suspension to increase passenger comfort. |
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