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Our Bureau

New Delhi, March 3

Automotive major Mahindra & Mahindra has decided to set up a third tractor assembly unit in the US. According to Mr Anand Mahindra, Vice-Chairman and Managing Director, M&M, the new unit will be operational in the next 18 months and would be located in the West Coast, as the company does not have a facility in that area.

"We service the US market through four locations. This includes not only M&M's facilities in India, but we also sell Mitsubishi tractors from Japan, tractors from Tong Yang Moolsan (TYM) of Korea and also from China," he said. Mr Mahindra added that the company is likely to sell 10,000 tractors in the US in the current fiscal year, with sales growing at a double-digit figure.

Speaking on the sidelines of the Indo-US CEO Forum meeting, Mr Mahindra added that group companies Tech Mahindra and Mahindra Holidays may be coming out with IPOs in the near future. He, however, declined to divulge the exact timing of the IPOs.

More Stories on : Overseas Investments | HCV/LCV/Tractors | Mahindra & Mahindra Ltd

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