Illinois Lyle (AP) - India truck manufacturers Mahindra&Mahindra company co., LTD., planned purchase of Navistar two joint venture enterprise shares, about $33 million, for the company to adjust its capital and poor performance of the canopy of the department.
The deal includes neville company of the group's equity MaXinDe island power company of auto and motorcycle company and Mahindra Navistar company engine private co., LTD., the two companies will become the company's subsidiary Mahindra&Mahindra company. MaXinDe island's department of joint venture automobile motorcycle began in 2005, and Mahindra company neville department of engine joint venture began in 2007.
Neville department of, heavy trucks and engine company said, it needs to be redirected to the attention MaXinDe island's department of cars and Mahindra company neville department of engine and more strong key areas, more quickly to make contribution to the goal, in order to improve the investment return on capital.
In jal star put forward a plan to cut costs, and says it is review its non-core business.
Mahindra&Mahindra company said on Tuesday, it will take MaXinDe island's department of cars and Mahindra company neville department of engine complete ownership, and continue to sell their products.
The agreement will allow Navistar international, inc., headquartered in Illinois Lyle, continue to purchase parts from India. Mahindra company will continue to provide engineering and technical services, neville company up to. Neville company to also will continue to support Mahindra&Mahindra company passed a license agreement, and provide the necessary support, neville department of Mahindra & Mahindra cars and Mahindra company neville department of engine.
The deal is expected to be completed early next year, need to be in India's regulatory approval.
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