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- Press Release
M&M acquires majority 3rd largest tractor company in China,forms JV with Yancheng Tractor Company
Mumbai: Mahindra’s Farm Equipment Sector, one of the world’s top tractor brands and the market leader in India, today signed an agreement to form a Joint Venture (JV) in China with Jiangsu Yueda Yancheng Tractor Manufacturing Co. Ltd. (Yancheng Tractor), a leading Chinese tractor manufacturer. The tractor related assets & current liabilities of Yancheng Tractors will be transferred to this JV. The value of net assets transferred to this JV will be RMB 335 million (USD 50 million approx.). Mahindra will hold 51 per cent (outlay approx.
18 Aug,2008 - Press Release
Senior appointments at Mahindra's Automotive Sector
Mumbai: Mahindra & Mahindra Ltd. (M&M), one of India’s leading auto companies, today announced the appointment of Mr. Rajesh Jejurikar as Chief of Operations, Automotive Sector and Mr. Rajan Wadhera as Chief of Engineering and Development, Automotive Sector. Mr. Louis Pereira has been appointed CEO of Mahindra Automotive Limited (MAL). All appointments are effective from August 1, 2008.
05 Aug,2008 - Press Release
Mahindra Group Consolidated Net Profit up by 36.7%
Mumbai: Mahindra and Mahindra Limited today announced the unaudited financial results of the consolidated Mahindra Group for the first quarter ended 30th June 2008.
01 Aug,2008 - Press Release
Mahindra & Mahindra to enter the two-wheeler industry
Mumbai: Mahindra & Mahindra Ltd. (M&M), one of India's leading automotive companies, today announced that its Board of Directors has approved the acquisition of business assets of Pune-based Kinetic Motor Company Ltd. (KMCL). The acquisition will be done through a New Company to be formed. (New Co.). The consideration for the acquisition is a sum of Rs. 110 crores (subject to closing due diligence) plus 20 percent stake to KMCL in the New Co. M&M will hold the balance 80 per cent of the equity.
30 Jul,2008 - Press Release
M&M Q1 gross revenues up by 26%
Mumbai: The Board of Directors of Mahindra and Mahindra Limited today announced the unaudited financial results for the first quarter ended 30th June 2008 for the company and for the consolidated Mahindra Group.
30 Jul,2008 - Press Release
Punjab Tractors Ltd to merge with Mahindra & Mahindra Ltd
Mumbai: The Board of Directors of M&M and PTL today unanimously approved a scheme of amalgamation of Punjab Tractors Limited (PTL), an M&M subsidiary, with Mahindra & Mahindra Ltd. Mahindra owns a majority stake in Punjab Tractors Limited and had earlier acquired 63.33% stake in PTL in July 2007. MHFL, a wholly owned subsidiary of M&M, currently holds 1.31% of PTL, and is also in the process of being merged into M&M.
30 Jul,2008