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Volvo Bus Corporation pact with Jaico

NEW DELHI: Volvo Bus Corporation and the Indian company Jaico Automobiles have reached an agreement to start a joint company in India for production of bus bodies based on Volvo buses' body technology. Volvo Buses will be the majority owner with a 70 per cent stake in the new company, which plans to build a new plant with a capacity of 1,000 bus bodies per year, said a company statement. The bus bodies will primarily be used for Volvo buses and coaches in the Indian market.

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