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Feb 12, 2013

TRUCKMAKERS NEWS * WORLDWIDE

* India - Mahindra takes complete ownership of Navistar operations in
Mumbai,India -Automotive Horizon, by Jayashankar Menon -12 Feb 2013: -- Homegrown auto major, Mahindra and Mahindra and the US truck and bus maker Navistar International Corporation announced this morning that the former had completed its acquisition of the latter's stake in Indian joint venture, Mahindra Navistar Automotives Limited and Mahindra Navistar Engines Limited... With the acquisition procedure over, Mahindra has now taken complete ownership of operations in India... According to the report, the deal has received regulatory approval in India and Mahindra continues to sell MNAL and MNEPL products... It may be recalled that in December 2012, Navistar announced its intention to exit the joint venture, as part of its strategy to focus on strengthening its North American core businesses and pursuing near term initiatives to improve the company's return on invested capital performance...

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