Financial Daily from THE HINDU group of publications
Tuesday, Dec 07, 2004
Financial Daily from THE HINDU group of publications Tuesday, Dec 07, 2004 |
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Corporate
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Outlook M&M eyes E. Europe for tractor assembly Neha Kaushik
New Delhi , Dec. 6 MAHINDRA & Mahindra is looking at the East European region for commencing assembly operations of tractors. A senior company official confirmed the same, though not revealing which countries the company is looking at in the region. According to industry analysts, with several East European countries joining the European Union this year, the region would emerge as a low-cost supply base to other EU countries. In addition, there are a few State-owned facilities in the region, which could be attractive targets for acquisition. Incidentally, with Poland joining the EU this year, another tractor manufacturer Escorts Ltd is using its Polish subsidiary for exports to Western Europe. M&M has been open to an inorganic growth strategy and had last month announced plans to set up a joint venture with Chinese player Jiangling Motors Corp. M&M said that it may use its China facility for exports of compact tractors to other countries and is also planning to import some components from China using Jiangling's supply base. The company may also use Jiangling's distribution network to sell India-made tractors.
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