M&M inks licensing pact with Mitsubishi Agri Machinery Co
Press Trust of India / New Delhi Feb 11, 2010, 16:57 IST
Farm equipment and utility vehicle major Mahindra & Mahindra (M&M) today said it has entered into an agreement with Japan's Mitsubishi Agriculture Machinery Co for licensing and technology transfer.
Under the agreement, Mitsubishi Agriculture Machinery Co (MAMC) will transfer strategic agricultural machinery technology to M&M, the company said in a statement.
The pact also outlines an association to provide mechanisation for crop specific solutions, it added.
"The agricultural machinery technology is being licensed to M&M Farm Equipment Sector's 'Applitrac Business' for manufacturing in India," it said.
The agricultural machinery will be sold under the Mahindra brand in the domestic market, in addition to exports to China and SAARC countries, it added.
It, however, did not specify the fees that M&M will be paying to the Japanese firm.
"The license agreement will facilitate manufacturing of an extensive variety of farm machinery to provide better skillful mechanisation to the farmers," M&M Farm Equipment Sector President Anjanikumar Choudhari said.
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