Mahindra eyes more tractor market share
Inaugurates Asia's largest tractor plant in Zaheerabad with an installed capacity of one lakh units ...
Inaugurates Asia's largest tractor plant in Zaheerabad with an installed capacity of one lakh units Utility vehicle major Mahindra & Mahindra which opened its `300-crore new tractor plant in Zaheerabad in Medak district is looking to increase its share in the tractor sales both in Andhra Pradesh and nationally. The new tractor plant, which has installed capacity to produce one lakh units annually and is considered to be the largest such facility in Asia was inaugurated by AP Chief Minister N Kiran Kumar Reddy in the presence of Mahindra Group Chairman Anand Mahindra on Wednesday. Speaking to media on the sidelines, Pawan Goenka, President, Automotive and Farm Equipment Sector, Mahindra Group said, "Currently we enjoy 42 per cent market share in the country and about 48 per cent share in AP's market. We expect the market share to go up both the state as well as the country with the inauguration of the new plant." The plant spread over 80 acres was built in a record time of 18 months. It has host of environment friendly features including zero pollutant discharge. The unit which is located about 100 km from the Hyderabad. Initially, the plant is expected to commence production with 1,000 units a month and gradually increase to the full capacity of one lakh units in the next four years, depending on the demand for the tractors. Goenka further said the company is setting up a spare-parts supplier park adjacent to the tractor manufacturing plant here. The company has obtained 100 acres land for the purpose and the suppliers are expected to invest about `150 crore on the project, he added. The auto major has already signed MoUs with seven vendors and hoped that overall there will be 15 to 20 suppliers to set up units at a 100-acre manufacturing park in the vicinity, Goenka said. Earlier speaking at the inaugural ceremony, Anand Mahindra, said that the group has achieved a very important milestone by setting up of the new plant here. State's industry minister Geeta Reddy also participated in the event. Tool-down-strike at Nashik plant continuesA New Delhi (PTI): M&M Ltd revealed that the tool down strike by workers at its Nashik plant in Maharashtra continued for the second day, resulting in a total production loss of around 500 vehicles so far. "The tool down strike by employees of the Nashik plant, which started on March 5, 2013 is currently continuing. The company has had a production loss of around 500 vehicles till date," M&M said in a statement. The company, however, said the loss of output will have no immediate impact on sales as it has three weeks of stock in the pipeline. "M&M believes in fair treatment and will keep its dialogue ongoing with the union representatives for stoppage of the current tool down and a planned strike so as to reach a mutual agreement," the company said. The company, however, did not share details such as what are the exact demands of the workers and since how long the wage negotiations are going on.
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18 Jun 2019 10:41 AM GMT