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.
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.
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 May 29, 2015, Mahindra and Mahindra closed at Rs 1260.20, up Rs 58.75, or 4.89 percent. The 52-week high of the share was Rs 1421.00 and the 52-week low was Rs 1106.00.
The company's trailing 12-month (TTM) EPS was at Rs 59.05 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 21.34. The latest book value of the company is Rs 270.42 per share. At current value, the price-to-book value of the company is 4.66.
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