Business Daily from THE HINDU group of publications
Thursday, Mar 06, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Mar 06, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Mergers & Acquisitions Mitsui picks up 30% stake in Yamaha India
The Yamaha Gladiator Our Bureau New Delhi, March 5 Yamaha Motor India Pvt Ltd on Wednesday formed a new joint venture company, India Yamaha Motor Pvt Ltd, with Mitsui Corporation to revive the company’s sagging sales in the country. Mitsui would have a 30 per cent stake in the venture and would bring its expertise of sales distribution and network, apart from investing in expanding the company’s operations. Expansion plansYamaha had announced that it would invest Rs 700 crore by 2010-11 to expand its motorcycle manufacturing business. Mitsui would be Yamaha’s second joint venture in India, after it separated from Escorts, in 2001, to become an independent entity. “Mitsui has been engaged with Yamaha’s business in Germany, the UK, Latin America and Indonesia since the 1970s and it has been beneficial to the parent company. In India also, through Mitsui’s strong contacts and logistics capability, we would be able to strengthen our dealer network and distribution,” a Yamaha Motor India spokesperson told Business Line. He said that at the operational level, Mr Tsutomu Mabuchi, Managing Director and Chief Executive Officer of the company would continue in his existing role, and there would be another senior official from Mitsui who would be at the next level. Yamaha, which currently has a manufacturing facility at Greater Noida to produce four lakh motorcycles, plans to augment it to 10 lakh units over the next three to four years. Yamaha India said that it had been scouting for a partner to entrench its presence in the domestic motorcycles market. The new company would be operational in April. Yamaha sells Alba, 100 cc Crux, 125 cc bike Gladiator, amongst others, in India. More Stories on : Mergers & Acquisitions | Two/Three Wheelers
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