Tata weighs Hispano options

Indian CV manufacturer, Tata Motors, is weighing its options for its Spanish bus and coach building arm, Hispano Carrocera, according to media reports. During the financial year 2012-13, the company had to provide a further 245 crore Rupees for a loan given to Hispano. Commenting on the difficulties Hispano is experiencing, the company’s latest financial report said, ‘Impairment triggered by continuous under performance, mainly attributed to extremely difficult market conditions in Spain. The Company is in the process of evaluating various options and business prospects of Hispano.’