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|3rd October 2015, 10:21||#1|
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Mitsubishi Mahindra Agricultural Machinery Co. formed
On May 21, 2015, Mitsubishi Heavy Industries and Mahindra entered into a partnership in the agricultural machinery field. According to the agreement, Mahindra would acquire 33% stake in Mitsubishi Agricultural Machinery Co. Ltd. (MAM), a subsidiary of MHI, through a third-party allocation of new shares. Now, the two companies have announced that the transaction has been completed.
As a result of the capital infusion, the new shareholding is as follows: MHI now owns 66.7% and M&M 33.3%. The company has been renamed as Mitsubishi Mahindra Agricultural Machinery Co., Ltd. and the new organisation has been announced.
In the new organization, Mr. Katsumi Tottori has been appointed CEO and President (formerly President of MAM) and Mr. Sudhir Jaiswal has been appointed as CFO and Senior Vice President (formerly Vice President – Commercial and Business Planning, International Operations, Automotive Division of Mahindra & Mahindra). Takahiro Hisano has been appointed as CTO and Senior Vice President (formerly Vice President and General Manager of Development and Design of MAM).
Mitsubishi Mahindra Agricultural Machinery has plans for global expansion of business. The company is banking on Mahindra’s product development capability, cost competitiveness and the sales network in India, China and the US and the technology and brand power of Mitsubishi Heavy Industries to strengthen its presence in Japan and global markets.
|4th October 2015, 21:31||#2|
Join Date: May 2009
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Re: Mitsubishi Mahindra Agricultural Machinery Co. formed
Mr.Anand Mahindra tweeted about the partnership with a link to the TBHP news item.
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