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Farm Machinery
Farm Machinery : Strategic Partnership in Farm Machinery by Mitsubishi and Mahindra
Mitsubishi Heavy Industries Ltd. (MHI) and Mahindra & Mahindra Ltd. (M&M), part of the Mahindra Group entered into a strategic partnership in the agricultural machinery field.
Under the definitive agreement, Mahindra will invest JPY 3 bn (USD 25 mn) for acquiring 33% voting stake in MHI subsidiary, Mitsubishi Agricultural Machinery Co. Ltd. (MAM) through fresh issue of common shares and Class A (non-voting) shares of MAM.
Mitsubishi Agricultural Machinery is a full range agri-machinery company producing and selling tractors, combine harvesters, rice trans planters and other agri-machinery. It had revenues of approximately JPY 50 bn (USD 408 mn) in 2014-15.
The new partnership will help both companies to jointly develop products to address global opportunities in the tractor and agri-machinery space.