Mahindra restructures truck and bus business to improve efficiencies

摘要

Mumbai - The Mahindra Group of Mumbai has announced plans to restructure it truck and bus operations to generate greater synergies. More specifically, Mahindra Trucks and Buses Ltd (MTBL) - the subsidiary company that was formed recently by the Mahindra Group to incorporate the assets and operations of the company's previous joint venture with America's Navistar, called Mahindra Navistar Automotive Ltd - is to be demerged from the group holding (subject to regulatory approvals) and become part of Mahindra's automotive subsidiary, Mahindra & Mahindra Ltd. The legal process is likely to be completed in the next six to eight months, M&M stated. Pawan Goenka, president, Automotive & Farm Equipment sectors, M&M, about the truck and bus operation said in a statement: "We are fully committed to our commercial vehicles business and intend to focus on running the light commercial vehicle (LCV), truck and bus business as a separate division post the proposed demerger, with the objective of growing our presence in the Indian commercial vehicle industry".