After acquiring Ssangyong, Mahindra Group eyes at more assets in Korea

Friday 25 November 2011, 11:12 AM by Vikas Yogi

After successfully acquiring the bankrupted South Korean Sports Utility Vehicle maker Ssangyong in March this year, the Indian utility vehicle giant Mahindra & Mahindra has said that it is open to acquire more assets in that market. The company has said that it is keen on deepening its engagement.

Speaking to the reporters in Mumbai on Thursday, Mahindra Group’s vice-chairman and managing director, Mr. Anand Mahindra said, "Yes, there is an opportunity to further explore investments, more acquisition opportunities in Korea, particularly in implements, farm equipments, and technology, yes we will definitely look at." He was answering a query regarding acquisition of more assets in the South Korean market.

While further elaborating the company’s strategy, Mr. Mahindra said that the company is sourcing tractors from Mitsubishi of Japan and Tongyang of Korea and selling them in the US markets under the band M&M.

Mahindra & Mahindra had completed acquisition process of Ssangyong in the starting of this year for about Rs 2,105 crore. After the acquisition, the company had said that it is planning to bring a few global portfolio SUV’s of Ssangyong in the Indian auto market. A few of these models will be showcased at Mahindra’s platform at the upcoming Delhi International Auto Expo.