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In its bid to be a global player in the automobile sector, Mahindra and Mahindra today forged a 51:49 joint venture with US-based International Truck and Engine Corportion (Itec) to manufacture trucks and buses in India. The JV, which has an initial investment of $80m ,would be called Mahindra International. Meanwhile, Mahindra Systems and Automotive Technologies (Msat),the auto ancillary division of M&M said it was looking to acquiring a German foundry unit shortly. Msat CEO Heman Luthra said "The company is looking at acquiring a German unit soon." |
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| Posted : 11/18/2005 |
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