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Mahindra looking to buy design company in Italy

Mahindra looking to buy design company in Italy
PTI
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First Published: Wed, Sep 05 2007. 10 17 PM IST
Updated: Wed, Sep 05 2007. 10 17 PM IST
New Delhi: Mahindra and Mahindra Ltd, India’s largest tractor maker that also makes cars and utility vehicles, is looking to buy a design firm in Italy to upgrade its skills. “The company is looking to acquire a design company in Italy,” group chairman Keshub Mahindra said on the sidelines of the Society of India Automobile Manufacturers convention here on Wednesday.
“The acquisition is a part of our global strategy to source the best product. We are always in search of this and whenever an opportunity arises we will go for it,” he added.
Mahindra has been looking for overseas buys to expand its business. It bought tractor business of China’s Jiangling Tractor Co. two years ago.
Mahindra also said the company’s manufacturing unit in Chennai with French carmaker Renault and Japan’s Nissan would be operational in two years. The three firms had in February agreed to form a joint venture to make cars at the Rs4,000 crore plant.
The plant, which would produce models for all the three partners, would have a capacity to produce 4,00,000 cars and utility vehicles.
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First Published: Wed, Sep 05 2007. 10 17 PM IST