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.
"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.
The Southeast Mahindra Assembly and Distribution Center will be operated by Randy Topping, owner of Mahindra dealer -- Chattanooga Tractor and Equipment, it added.
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 November 26, 2015, Mahindra and Mahindra closed at Rs 1345.10, up Rs 27.15, or 2.06 percent. The 52-week high of the share was Rs 1441.45 and the 52-week low was Rs 1095.00.
The company's trailing 12-month (TTM) EPS was at Rs 52.62 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 25.56. The latest book value of the company is Rs 310.09 per share. At current value, the price-to-book value of the company is 4.34.
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