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Mahindra And Mahindra Ltd Announces Mahindra Truck & Bus Business To Demerge Into M&M Ltd. To Operate As New Division

Wednesday, 14 Aug 2013 06:31am EDT 

Mahindra And Mahindra Ltd announced that it had reaffirmed its commitment to its truck and bus division, Mahindra Navistar Automotive Ltd. as Mahindra Trucks and Buses Ltd. (MTBL), which is a wholly owned subsidiary and part of the USD16.2 billion Mahindra Group. Subject to regulatory approvals, the Company also intends to demerge its trucks and buses operations from MTBL into Mahindra & Mahindra to derive greater synergies. It also announced plans to invest INR2 billion to further strengthen its existing product line up and start exploratory work for new product lines that could lead to further capital infusion of over INR3 billion in due course. Mahindra Trucks and Buses Ltd. has also announced new branding for its heavy commercial vehicle range. The multi-axle trucks will now be called Mahindra TRUXO 25 and TRUXO 31; Tractor Trailers will be called Mahindra TRACO 35 and TRACO 40; and the tippers will be called Mahindra TORRO 25 and TORRO 31.