M&M to bring acquired Boeing unit to Bangalore

Chennai: Mahindra & Mahindra has decided to dismandle its recently acquired Boeing plant in Melbourne, Australia, which makes machinery for aircraft, and shift it to Bangalore.
Anand MahindraIt is also in talks with some of the world’s largest aviation companies to be providers of components and services,according to Mahindra Group’s Vice-Chairman and Managing Director, Anand Mahindra.
After launching Mahindra First Choice Wheels 2S Superstore here on Wednesday, he said: “We have asked the Karnataka government to allocate land close to the Bangalore airport.”
The company hopes this would boost orders, as it is likely to help improve the quality of aircraft parts it produces and attract clients that need to fulfill their offset obligations in India. Under Indian law, foreign companies selected for government defence contracts have to source about 30 per cent of the project value from local vendors if the project is worth Rs 300 crore or more.
07/04/11 T E Narasimhan/Business Standard

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Categories: Foreign Apr 2011, New Apr 2011