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Mahindra’s Next Foray With Mitsubishi
The move is to envisage the deriving of sources to expand in the US and in India for its tractor sector. M&M is to have this pact for getting farm vehicle components from the Japanese company. The Chief executive for international operations and farm equipment of M&M said that Mahindra has started the steps in this regard. There will be forming of joint teams for exploring the possibilities of product developments in domestic market as well as overseas markets.
The markets mooted to be focused by M&M are in certain regions of Europe, Africa, Central and South America. Already the company has established its presence in Turkey for European operations and has strengthened its distribution schemes in South Africa, Zambia, Tunisia, Ethiopia, Morocco and Kenya.
Mahindra has seen the possibilities of such expansion once it entered into JV with TYM long back some four years ago. However the pact had been reduced to limited products and the last four years have gone in favor of the alliance with Japanese company, he added.
M& M and Mitsubishi Agriculture Machinery Co. are in current pact for mutual transfer of agro based machinery technology in Indian manufacturing. M&M"s presence in the US market since 2003 with its 33bhp tractors sourced from Mitsubishi are sold under Mahindra branding. M&M has segregated the sale of tractors for the Australia and the US markets delivered under the JV with the Japanese company. In all the company has got the overseas sale of 48600 units till March 2011 making a rise by 17% concentrated in the markets of China, Srilanka, Bangladesh, African continent and the US.
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