Punjab tractors Limited (PTL), the company in which Mahindra and Mahindra (M&M) had recently acquired a 43.5 per cent stake may be heading for a revamp. | |
| A high profile team of M&M vice-chairman Anand Mahindra, is likely to visit Chandigarh on April 5 to get a feel on how to turnaround the ailing unit. The team is likely to visit the manufacturing bases of PTL at Mohali, Chapperchari and Nabha. |
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| According to sources, the Mahindra group might upgrade the machinery and focus on man-power training as a part of its restructuring programme. |
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| Punjab Tractors Limited, once a bluechip company lost its market share due to lack of direction. |
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| The profits were not reinvested into the upgradation of machinery, training of man-power and marketing that led to a loss in market share of a once strong brand. |
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| According to a senior company official, Mahindra group wants to synergise with PTL to secure a larger market share with optimum utilisation of available sources. "We are going to work as partners and not as a promoter" he said. |
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| The Punjab Tractors for the time being has scaled down the production in order to clear the old commitments, said one of the suppliers. |
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| The dealers and suppliers are sanguine over Mahindra's participation in Punjab Tractors. |
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| It is expected that no major changes in higher management would be introduced and the marketing and R&D supportprovided by Mahindra would suffice for the revival of Punjab Tractors. |
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