28 Aug '13, 9am

India: MAHINDRA & MAHINDRA to demerge bus and truck operations

After the demerger, the Mahindra Trucks and Buses will run the spares business for the company. The legal process is likely to be completed in the next 6-8 months. "M&M as a group makes some short-term bets and some long-term bets. We have placed a long-term bet on our truck business. The board has given us three years of free hand and committed a certain amount of money. We are pretty confident on the potential and our capability to turn around business," said Pawan Goenka of M&M. M&M will infuse Rs 500 crore into the business, thus reaffirming the commitment to the trucks and buses arm. Of this, Rs 200 crore would go towards strengthening the existing product portfolio and another Rs 300 crore into the fast growing intermediate and medium duty truck space (7.5-tonne to 16-tonne trucks), which constitutes about one-third of the overall truck market.

Full article: http://www.busworld.org/articles/detail/1874

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