| || ||Thread Tools||Search this Thread|
|21st May 2015, 18:17||#1|
Join Date: Feb 2004
Thanked: 23,889 Times
Mahindra to acquire 33% stake in Mitsubishi Agricultural Machinery
Mitsubishi Heavy Industries Ltd. (MHI), and Mahindra & Mahindra (M&M), have entered into a strategic partnership in the agricultural machinery field. Under the definitive agreement signed today, Mahindra will invest US $ 25 million for acquiring 33% voting stake in Mitsubishi Agricultural Machinery Co. Ltd. (MAM), a subsidiary of MHI, through fresh issue of common shares and Class A (non-voting) shares of MAM. The deal is expected to be closed by October 1, 2015.
The new funding will be used to increase MAM’s capital base. MAM is a full range agri-machinery company producing and selling tractors, combine harvesters, rice transplanters and other agri-machinery.
Mahindra is the world’s largest tractor manufacturer by volume. MAM has been supplying OEM tractors to Mahindra USA (subsidiary of M&M in the US) as well as providing technical license to Mahindra for walk-behind rice planters and new tractor in India.
Under the new partnership both companies will jointly develop products to address global opportunities in the tractor and agri-machinery space. In addition, the partnership is also expected to enable MAM and Mahindra to improve cost competitiveness though joint procurement and optimize the supply chain.
|Thread Tools||Search this Thread|
|Thread||Thread Starter||Forum||Replies||Last Post|
|World trade fair for construction machinery||pawan_pullarwar||The International Automotive Scene||14||17th May 2010 18:40|
|Ratan TATA donates $50 million to cornell University for Agricultural research||rkg||Shifting gears||0||21st October 2008 10:11|
|Farm Vehicles & Agricultural Equipments, Off Highway Workhorse||SirAlec||Commercial Vehicles||14||12th October 2008 19:52|