Deal - India - Mahindra inks with US' Co. to make trucks & buses
Mumbai,India -Hindu Business Line -Nov. 17, 2005: -- MAHINDRA & Mahindra Ltd (M&M) and International Truck & Engine Corporation of the US formally signed on Thursday their earlier announced agreement for a joint venture to manufacture trucks and buses in India... The money will primarily go towards truck production, cab building and engine testing facilities, Mr Arun Pande, appointed managing director of Mahindra International, said at a press briefing... The total capacity planned was 70,000 units per annum, composed of 20,000 LCVs and 50,000 medium and heavy commercial vehicles. As with its joint venture for car manufacturing with Renault, here too, M&M will earn a contract-manufacturing fee from Mahindra International...
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