Jul 11, 2013, 08.17 PM IST | Source: PTI

M&M USA to set up tractor assembly, distribution centre

Mahindra USA decided to set up an assembly and distribution centre by January 2014. It will expand one of the four tractor facilities in North America. It will provide the additional capacity to support the rapid growth of brand Mahindra, Mahindra USA President Mani Iyer said in a statement.

M&M USA to set up tractor assembly, distribution centre

Mahindra USA, a subsidiary of Mahindra and Mahindra (M&M), today said it will set up by January an assembly and distribution centre, expanding one of the four tractor facilities in North America.
    
"This investment in the expansion of our North American facilities will provide the additional capacity needed to support the rapid growth of the Mahindra brand," Mahindra USA President Mani Iyer said in a statement.

The new facility will employ up to 100 people as it moves into full production, creating 55 new jobs, the company said.

Also read: Mahindra & Mahindra to cut output as SUV demand slows

The Southeast Mahindra Assembly and Distribution Center will be operated by Randy Topping, owner of Mahindra dealer -- Chattanooga Tractor and Equipment, it added.
    
"The expanded assembly and distribution center will continue to be located in Chattanooga, TN, and will support the growing southeast and midwest Mahindra dealer networks," the company said.
    
Commenting on the development, Southeast Mahindra President Randy Topping said: "Demand for the Mahindra product line is rapidly growing in the US and to support the growing market share, this will be a dedicated assembly and distribution facility."

Houston-based Mahindra USA is a wholly owned subsidiary of Mahindra and Mahindra Ltd and began selling tractors in the USA in 1994.

M&M stock price

On April 17, 2014, Mahindra and Mahindra closed at Rs 997.35, up Rs 22.00, or 2.26 percent. The 52-week high of the share was Rs 1054.00 and the 52-week low was Rs 741.50.


The company's trailing 12-month (TTM) EPS was at Rs 60.90 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 16.38. The latest book value of the company is Rs 238.22 per share. At current value, the price-to-book value of the company is 4.19.

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