M&M to buy China''s Jiangling Tractor

By Our Corporate Bureau | 10 Nov 2004

1

Mumbai: Mahindra & Mahindra (M&M) is set to acquire the manufacturing assets of the China-based Jiangling Tractor for $8 million (approximately Rs 36 crore) marking the Indian company''s first overseas acquisition.

The acquisition will be made through a joint venture in which M&M will hold 80 per cent share holding. Jiangling plant manufactures 12,000 tractors a year, against M & M''s 80,000-per annum capacity.

An MoU was signed between M & M and the of the Chinese tractor company holding company, Jiangling Motor Corporation Group. The deal would be finalised subject to regulatory approvals. Earlier in 2003 M&M had lost out to US-based AGCO Corporation to acquire the Finnish tractor company, Valtra.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers