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Old 13th August 2010, 19:55   #46
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Again hats off to M&M. It has closed in on the Ssangyong deal.The company gets new SUV technology and all the state of the art R&D facilities come to M&M along with.
But the flip side is that the Ssangyong SUV's were gas guzzlers that ate into the company's health leading to its sickness.
But M&M with its market savvy will do some "Lift Kara De" now!
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Old 14th August 2010, 00:31   #47
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Default Ssangyong buy set to fuel M&M’s global SUV drive

Ssangyong buy set to fuel M&M’s global SUV drive

Deal to help enter emerging markets. Anand Mahindra Ruias to continue global hunt for carmakers.

New Delhi: With Mahindra & Mahindra (M&M) all set to add the beleaguered auto maker Ssangyong Motors to its long list of acquisitions, the utility major is getting closer to the realisation of its dream - to become a global SUV player.

With direct access to markets in China, Russia, Western Europe and Korea through Ssangyong's network, M&M is well placed to push its brand across geographies, say analysts. "M&M will now have access to Ssangyong's technology which it would look to use in its own products. Apart from that M&M will have easy market access to many countries where it is not present," said Surjit Arora, an auto analyst with Mumbai-based brokerage firm, Prabhudas Lilladher.


Ssangyong buy set to fuel M&M?s global SUV drive - 1 - *Autos - MSN India

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Old 14th August 2010, 01:44   #48
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Ugly pairs up with uglier. A match made in heaven for uglies which will result in an offspring of little uglies with four wheels populating the planet. Touche'.
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Old 14th August 2010, 01:59   #49
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Originally Posted by nickatnite View Post
Ugly pairs up with uglier. A match made in heaven for uglies which will result in an offspring of little uglies with four wheels populating the planet. Touche'.
Perfect summary.
SSangyong for any amount of money seems likes a complete waste.
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Old 14th August 2010, 03:50   #50
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Originally Posted by nickatnite View Post
Ugly pairs up with uglier. A match made in heaven for uglies which will result in an offspring of little uglies with four wheels populating the planet. Touche'.
I think this is too much. Because both SSyangyong's concept models posted in this thread and also mahindra world suv seem much better than the vehicles already present in the respective stables.

Moreover this acquisition is as much for ssangyong's technology, commercial vehicles and dealership network than the current models(which all suck). Lets hope Mahindra turns this around and produces better cars
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Old 14th August 2010, 07:40   #51
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What does M&M gain from this, except from access to other markets? SSyangyong is not known for exceptional R&D or products unlike the Hummer from which M&M walked away after initial rounds of negotiation few years back.
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Old 14th August 2010, 09:16   #52
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its purely a busines deal to reach other untapped markets, by M&M.

and ofcourse gain some technological knowhow to help M&M bring newer and better products into india.

i think SS uses Mercedes Benz engines for their vehicles!
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Old 14th August 2010, 10:01   #53
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Quote:
Originally Posted by Parm View Post
i think SS uses Mercedes Benz engines for their vehicles!
Correct, Infact SS Chairman is looks like Mercedes only. Older version was more inclined towards Mercedes.

I just admire its erstwhile SUV with massive 3.6 litre engine Korando. This is the first SUV Korea made and Korando's full form is "Korea Can Do" means Korean automakers also can make SUV like west. My avatar pic is Korando only.
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Old 23rd August 2010, 19:42   #54
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Mahindra signs MOU with Ssangyong

From the official release:

Quote:
Mahindra & Mahindra signs MoU with Ssangyong Motor Company
Strategic acquisition to make Mahindra & SYMC a combined force in the global SUV space

August 23, 2010, Seoul, South Korea: Mahindra & Mahindra Ltd. (M&M), India’s leading manufacturer of utility vehicles, today signed an MoU with Ssangyong Motor Company (SYMC) to acquire a majority stake in the South Korean SUV maker. This will be followed by a detailed due diligence process and finalization of definitive agreements.
SYMC is a significant player in the SUV segment in Korea, having recorded 1.3 million SUV sales from 1990 to 2009. Mahindra, a US $7.1 billion Indian multinational, employs over 1,00,000 people across the globe.

Mahindra enjoys a leadership position in utility vehicles, tractors and information technology, with a significant and growing presence in financial services, tourism, infrastructure development, trade and logistics. The Mahindra Group today, is an embodiment of global excellence and enjoys a strong corporate brand image.
In November 2006, Mahindra was declared one of the world’s 200 most reputed companies by Forbes.com. The reputation poll, which was conducted by the US based Reputation Institute, ranked the company amongst the Top 200 of the Most Reputed Companies in the World and in the Top 10 list of India’s most reputed companies. Mahindra & Mahindra is also one of only two Indian companies to feature in the Credit Suisse ‘Great Brands of Tomorrow’ list. The study takes an in-depth look at how a company's brand can be one of the few true competitive advantages remaining in modern industry.

“Korea is one of the world’s leading centres of automotive excellence and Ssangyong brings with it a rich legacy of R&D and innovation. India is a rapidly growing SUV market and will create new growth avenues for Ssangyong. The synergies between both the brands, which share a similar heritage, will make us a combined force to reckon with in the global UV space,” said Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group.

“We are committed to leveraging Ssangyong’s strong competencies in R&D and technology by investing in a new SYMC product portfolio which will help us gain momentum in global markets. Mahindra’s focus on alternative fuels and electric vehicles with the acquisition of REVA, will further strengthen SYMC’s brand value and take it to new geographies,” said Dr. Pawan Goenka, President, Automotive and Farm Sector, Mahindra & Mahindra Ltd.

Mahindra & Mahindra is committed to nurturing the SYMC brand in global markets while preserving its Korean heritage. It is intended that SYMC will continue to function as an independent entity with Korean management. The acquisition will offer financial stability to SYMC while making Mahindra & Mahindra the largest Indian employer in Korea.
Rothschild and Samsung Securities are advisors to Mahindra & Mahindra Ltd. on this transaction.
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Old 23rd August 2010, 20:09   #55
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Mahindra should launch the Chairman W (please not teh outdated one) in India. They should assemble it locally and use SYongs 5 cyl. Diesel to power it and call it the Mahindra Chairman. This will be a perfect counter to the likes of Accord/Superb and also a better looking and more VFM alternative. Not to forget the huge boost it will give to brand Mahindra.
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Old 23rd November 2010, 15:13   #56
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Mahindra signs deal to buy Ssangyong Motors for $464 million !

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Mahindra & Mahindra on Tuesday said it has signed a definitive agreement with Ssangyong Motor Company Limited (SYMC) to acquire 70 per cent stake in the ailing South Korean auto maker at a total cost of USD 463 million (about Rs 2105 crore).

The company said in a statement that it expected the deal to be concluded by March 2011.

Mahindra will acquire 70 per cent stake in Ssangyong and out of the total cost of acquisition of USD 463 million, USD 378 million will be in in new stocks and USD 85 million in corporate bonds, it added.

"The coming together of Mahindra and Ssangyong will result in a competitive global UV player. Together with its financial capability, Mahindra offers competence in sourcing and marketing strategy while Ssangyong has strong capabilities in technology," M&M president, automotive & farm equipment sectors, Pawan Goenka said.

He said there was also an opportunity to introduce a premium portfolio of SUVs in the Indian market, providing a new growth avenue for Ssangyong and "further strengthen our dominant position in the UV segment".

Commenting on the deal, Receiver of SYMC Yooil Lee said: "The securing of a solid partner who has both financial capability and is engaged in diverse markets will allow Ssangyong to emerge as a global SUV player through the strengthening of R&D, investments in product development, better business competitiveness and global sales expansion."

M&M said it has also signed a tripartite agreement the labour union of SYMC and SYMC, which contains provisions for employment protection, long-term investment and commitment for no labor dispute.

It said that it has already deposited 10 per cent of the final purchasing price per terms of the definitive agreement, with the remaining balance to be deposited three days prior to SYMC's stakeholder meeting.

SYMC will update its corporate rehabilitation plan to include reference to repaying liabilities with cash-in from the deal, and will be required to receive approval from creditors and the court on the updated plan.

After completing all the acquisition procedures and the repayment of rehabilitation claims, the corporate rehabilitation process is likely to be finished by March, 2011, the statement added.

The creditors are expected to approve the revised corporate rehabilitation plan by January 2011, it added.

Ssangyong Motors is a premier manufacturer of sports utility vehicles (SUV) and recreational vehicles (RV), with models such as Musso and Korando C, which was launched in export markets in October 2010.
Source: Mahindra signs deal to buy Ssangyong for $464 million - The Times of India
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Old 27th November 2010, 20:16   #57
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Quote:
Originally Posted by anujmishra View Post
I just admire its erstwhile SUV with massive 3.6 litre engine Korando. This is the first SUV Korea made and Korando's full form is "Korea Can Do" means Korean automakers also can make SUV like west. My avatar pic is Korando only.


Now that it will be available in India, why not call it KOR-INDO (for Korea and India Can Do).

Last edited by pamiboy : 27th November 2010 at 20:25. Reason: Add picture
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Old 4th December 2010, 21:07   #58
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Last week CNB (NDTV) featured C200 (Kornado) and the Rexton. C200 seems to be one in the Yeti class; 2L Diesel, 175 BHP power and and compact 5 seater with lots of space.

CNB claimed its possible that M&M will bring it to India. This was confirmed by Dr Pawan Goenka in the program. He mentioned, they were looking to get the C200 to India

CNB claimed that the top end AWD may be positioned at 12.5L ex-showroom. Now that is what we are looking for!
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Old 16th March 2011, 23:53   #59
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Default Re: Mahindra to bid for Ssangyong. EDIT : Signs MOU Pg. 4

M&M has completed the acquisition of Ssangyong Motor Company . M&M now holds 70% stakes in SMC ! The company will invest nearly 960 crore rupees in product development and brand building process .

@ mods : Please make the suitable changes to title .
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Old 17th March 2011, 22:18   #60
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Default Re: Mahindra to bid for Ssangyong. EDIT : Signs MOU Pg. 4

Press Release

DR PAWAN GOENKA APPOINTED CHAIRMAN OF SSANGYONG MOTOR COMPANY
Mumbai March 17, 2011: Dr Pawan Goenka, President, Automotive & Farm Equipment Sectors, Mahindra & Mahindra Ltd. (M&M) has been appointed as the Chairman of Ssangyong Motor Company (SYMC) at a meeting of the newly appointed Board of Directors of the company, in Korea. This is in furtherance to M&M announcing that it had completed all formalities related to the acquisition of a majority stake in SsangYong Motor Company and that the company is no longer in Court Receivership. The new CEO of SYMC will be Mr. Yoo-il Lee, while Mr. Dilip Sundaram from Mahindra will be the new CFO. Mahindra had emerged as the preferred bidder for SYMC in August 2010.
The Board of Directors of SYMC includes the following:
Independent Directors
Mr. Thierry Moulonguet
· Executive Vice President and CFO, Member of the Executive Committee, Renault from 2004 -2010
Dr. Kim Kihwan
· Korea’s Ambassador-at-Large for Economic Affairs from 1997-1999
· Vice Minister of Trade and Industry, Government of Korea from 1983-1984
· Member of the Monetary Policy Board, Government of Korea from 1981-1983
Mr. Suk Suh Yoon, Ph.D.
· Korea International Trade Insurance system, the current Chairman of the Committee for the Special Assessment
· Currently the Dean of Ewha Women’s University College of Business
President and CEO
Mr. Yoo-il Lee
· Legal Trustee / Chairman, Ssangyong Motor Company, Seoul Korea
· Former President & C.E.O of Hyundai Motor North America (U.S.A. and Canada)
· Former President, Hyundai Development Company (construction & engineering), Seoul, Korea
Directors
Dr. Pawan Goenka
· President, Automotive and Farm Equipment Sectors, Mahindra & Mahindra Ltd.
Mr. Bharat Doshi
· Executive Director & Group CFO, Mahindra & Mahindra Ltd.
“We are delighted that Dr. Goenka who has played a key role in this initiative, has been appointed Chairman of SsangYong Motor Company and are sure that under his and Mr. Lee’s stewardship, SYMC will scale new heights,” said Mr. Bharat Doshi, Executive Director & Group CFO, Mahindra & Mahindra Ltd. who was present at the Board meeting in Seoul, Korea.
Speaking on his appointment as Chairman of SYMC, Dr Pawan Goenka said, “It is a matter of great pride for me to be appointed Chairman of one of Korea’s premier automotive companies. With the support of the local management, Mahindra and SYMC will emerge as a strong force in the global utility vehicle space. We are committed to nurturing the SsangYong brand in both the Korean and global markets and returning it to its days of glory.”
“Mahindra brings with it a great deal of passion, domain expertise and knowledge of the global UV market, as India’s leading utility vehicle (UV) manufacturer. All of us at SsangYong look forward to working closely with the Mahindra team to help develop a new product portfolio and gain momentum in overseas markets,” said Mr. Yoo-il Lee, CEO, SsangYong Motor Company.
For Mahindra, the biggest benefit from this partnership will be the opportunity to harness synergies between the two companies, while protecting their respective brand identities and ensuring quality. Towards this end, a Synergy Council comprising of senior management from both companies will be established to ensure focus and delivery of synergies between the two companies. The Council will focus on various aspects such as global procurement, new car development and business strategy to penetrate international markets.
Going ahead, Mahindra has also proposed the following five point agenda for SsangYong:

Strengthening the product pipeline
Harnessing synergies between the two companies
Investing in the SYMC brand
Building human resources
Focusing on financial stability
SsangYong has also proposed the following investments:
In 2011, the business plan calls for a 70% investment increase in product development, as compared to last year, at over KRW 200 billion
Over 40 billion KRW for brand building in Korea – a 60% increase over 2010 – and an increase in overseas brand investment by over four times, in 2011.
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