2.88 -0.01(-0.35%)
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Incorporated in 1944, Premier Limited, formerly known as Premier Automobiles Limited manufactures passenger cars, trucks, buses, etc. The Company's name was changed from Premier Automobiles Limited to Premier Limited effective from 28 March, 2005. It operates in only one business segment i.e., Engineering. The Engineering segment consists of Manufacture of CNC Machines and large mechanical components for the wind energy and infrastructure sectors and professional and engineering services. The Company operate a plant at Khed Tal., Pune. PAL's Premier Padmini enjoyed a commanding position, along with Hindustan Motors, till 1984, before the launch of the Maruti 800. In Jan.'86, PAL started producing the 118 NE. PAL plans to rejuvenate itself through modernisation, new project launches and a joint venture with Automobiles Peugeot, France.It has also tied up with Fiat, Italy. As the present Padmini model is a product of Fiat, the latter will help upgrade the model. But the thrust will be on another model to be launched, named Uno, with technology from Fiat, Italy. Fiat, which considers India a key market, is also interested in strengthening its long-term relationship with PAL. The 999 cc Uno has roll out by the beginning of 1996. The company has entered into an arrangement wit...