Tata Motors Declines to Comment Swaraj Mazda Deal

Monday 14 December 2009, 00:00 AM by Satish Kalepu

It was earlier reported that Tata Motors is looking at acquiring a stake in Swaraj Mazda from Sumimoto that currently holds 53.3 percent shares. However, in a recent statement Tata Motors spokesperson said, “These are speculative stories and we have no comments to offer. If anything of that sort comes up, we will make an announcement."

Swaraj Mazda was owned by Punjab Tractors Limited of India in associations with Japanese Sumimoto Corporation. Sumimoto acquired remaining stake in the company from Punjab Tractors earlier this year. Now it only has technical collaboration with Isuzu and Mazda of Japan. It currently manufactures light commercial vehicles, trucks, buses, water tankers, ambulances, special vehicles and police personal carriers.

Tata Motors Declines to Comment Swaraj Mazda Deal | CarTrade.com

Tata Motors spokesperson clearly indicated that they do not wish to comment on any speculations about any new business venture or acquisition. However, Tata Motors is known to have plans to boost its its position in the light commercial vehicle market, which is set to see the entry of new players such as General Motors and its Chinese partner SAIC.

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