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Mahindra plans to acquire Italian Design Company to upgrade skills

Mahindra and Mahindra, is expecting to buy a design firm in Italy to upgrade its skills

Apnaloan.com Research Bureau

06 Sep 2007

Mahindra and Mahindra, is expecting to buy a design firm in Italy to upgrade its skills.   

The company, which also makes utility vehicles, has been looking for overseas buys to expand its business. It had bought tractor manufacturing assets of China's Jiangling Tractor Company a couple of years ago, and was also interested in buying a Romanian firm.  
 
In recent days, the company has been reported to be eyeing ailing Ford Motors' two marquees Jaguar and Land Rover, and is also said to have started due diligence. 
 
Mahindra also said that the company's manufacturing unit in Chennai, a joint venture with French carmaker Renault and Japan's Nissan, would be operational in two years. 
 
The companies had in February agreed to form a JV to make cars at the 925-acre plant on an investment of Rs 4,000 crore. 
 
The plant will have a capacity of 4, 00,000 cars and utility vehicles, would make models of all three partners, besides power train for Renault and Nissan. Mahindra has also said that the company is developing a special economic zone at Gopalpur in Orissa.