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India’s M&M to set up plants in African countries
By African Bulletin on April 26, 2011
The world’s largest tractor maker Mahindra & Mahindra is mulling to set up assembly plants in Tunisia, Morocco, South Africa, Kenya, Ethiopia and Zambia, said India’s “Economic Times”. The oversea expansion plans will enable M&M boost its manufacturing prowess to ramp up presence in the fast-growing African economy, said India’s
Business newspaper.
The auto major, which already has satellite plants in Gambia, Tchad, Mali, Ghana & Nigeria for farm equipment, will use its facilities to assemble three-wheelers, light commercial vehicles and utility vehicle Bolero to drive volumes in an economy marked by rising disposable incomes.
M&M plans to appoint a country manager, who will spearhead its fast-paced expansion plans in Africa. Further, a team of 7-8 people have been deployed in some key markets in the continent.
The company, which gets 15% of its export volumes from Africa, plans to double its exports to the continent in a year.
“We are currently present in 24 out of the 53 countries and we are the only Indian tractor company, and among the few in the world that have helped set up tractor assembly facilities in Africa,” said Pravin Shah, M&M, chief executive of international operations.