- Joined
- Nov 20, 2003
- Messages
- 26
- First name
- Chipperman
I know this has nothing to do with Zetor but I thought people might be interested. There seemed to be conflicting reports. The first report I saw said M&M was pulling out of the deal then I saw two news releases stating they were close to completing the deal. It would make sense. Mahindra has no cab tractors that they build. (at least here in the states) They have two excellent cab tractors here in the US but they are built by TYM. What can people tell us about Universal and their tractors?
Happy Tractoring
Chipperman
M&M set to buy Romania firm
Saturday, September 17, 2005
Mahindra & Mahindra (M&M), the country`s largest tractor maker, is close to acquiring the Romanian government`s 80 per cent stake in SC Tractorul UTB SA, reports Business Standard.
The Romanian firm produces 15,000 tractors a year at its facility in Brasov and has an additional capacity of 18,000 engines annually. It recorded a turnover of around Rs 250 crore last year.
M&M had emerged as the sole bidder for the foreign company, which could not be confirmed.
The company also informed that it was negotiating with AVAS, the Romanian governments privatisation authority, for the acquisition. The Romanian government had put SC Tractorul on the block again after Italys Landini backtracked from buying it.
Recently, M&M entered China by forming a joint venture, Mahindra (China) Tractor Co. The joint venture`s Nanchang plant has a capacity to manufacture 12,000 tractors a year. The company will cater to the Chinese market as well export to the US, Australia and India.
M&M has set a target of becoming the fourth largest tractor manufacturer in the world over the next five years.
Source : myiris.com (9/17/2005
Happy Tractoring
Chipperman
M&M set to buy Romania firm
Saturday, September 17, 2005
Mahindra & Mahindra (M&M), the country`s largest tractor maker, is close to acquiring the Romanian government`s 80 per cent stake in SC Tractorul UTB SA, reports Business Standard.
The Romanian firm produces 15,000 tractors a year at its facility in Brasov and has an additional capacity of 18,000 engines annually. It recorded a turnover of around Rs 250 crore last year.
M&M had emerged as the sole bidder for the foreign company, which could not be confirmed.
The company also informed that it was negotiating with AVAS, the Romanian governments privatisation authority, for the acquisition. The Romanian government had put SC Tractorul on the block again after Italys Landini backtracked from buying it.
Recently, M&M entered China by forming a joint venture, Mahindra (China) Tractor Co. The joint venture`s Nanchang plant has a capacity to manufacture 12,000 tractors a year. The company will cater to the Chinese market as well export to the US, Australia and India.
M&M has set a target of becoming the fourth largest tractor manufacturer in the world over the next five years.
Source : myiris.com (9/17/2005
