Automotive Axles Ltd Enters MoU with Meritor HVS (India) Ltd for Revised Commercial Understanding

Automotive Axles Ltd has entered into a binding memorandum of understanding (MoU) with Meritor HVS (India) Ltd (MHVSIL). The MoU outlines a revised commercial understanding with respect to the business/operations of the Company and MHVSIL. Certain customers of MHVSIL will be transferred to the Company for direct servicing. This change is to ensure continuity of supply and will not result in any change to the product specifications, pricing, or terms of service for the customers. The MoU also contemplates a services agreement for certain marketing, business development, engineering and product development, account management and relationship related services to be provided by MHVSIL to the Company.