Automotive Axles Ltd Enters Into Services Agreement with Meritor HVS (India) Ltd

Automotive Axles Limited has executed a services agreement with Meritor HVS (India) Limited. The agreement, approved by the Board of Directors, is for marketing, business development, engineering and product development, product technology, account management and relationship, program management related services in relation to the products manufactured by the Company. The agreement is between the Company and MHVSIL, a part of the Promoter Group. The transactions are proposed to be conducted at an arm's length basis with fees determined accordingly. The agreement has received necessary approvals from the Audit Committee and the Board of Directors.