Speaking on the alliance, Rajesh Jejurikar, President and Chief Executive (Farm Equipment and Two Wheeler Division), MandM said, "It is a matter of pride for us to have signed this alliance today which is a 'Win-Win' for the agricultural machinery businesses of both companies. This will enable strategic growth avenues for Mitsubishi Agricultural Machinery (MAM) through Mahindra USA, China and other international markets thereby speeding up our international expansion. It will also provide a platform for both the companies to leverage Technology and Product Development synergies."
Cleo Franklin, Vice President - Marketing and Strategic Planning, Mahindra USA, Inc., stated, "MUSA has a long relationship with Mitsubishi Agricultural Machinery and since 2003 we have worked together to develop products and solutions to meet our customer's needs in North America. The strength of our partnership will allow us to take the next steps towards our goal of becoming one of the Top 50 Most Admired Global brands by continuing to focus on our Customer-First and Dealer-First philosophies."
The new partnership will help both companies to jointly develop products to address global opportunities in the tractor and agri-machinery space. In addition, the partnership will enable MAM and Mahindra to improve cost competitiveness though joint procurement and optimize the supply chain.
Mahindra USA (MUSA) is part of the USD $16.5 billion Mahindra Group's Automotive and Farm Sector - the number one selling tractor company in the world, based on volumes and the only tractor manufacturer in the world to win the industry's top two quality awards - the Deming Application Prize and the Japan Quality Medal.
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 3,992.1 billion yen in fiscal 2014, the year ended March 31, 2015.
Mitsubishi Agricultural Machinery Co., Ltd. (MAM), headquartered in Matsue, Shimane, is a fully owned subsidiary of Mitsubishi Heavy Industries, Ltd. with consolidated sales of 35.3 billion yen in fiscal 2012, the year ended March 31, 2013.
The Mahindra Group is a USD $16.5 billion multinational group based in Mumbai, India. It operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership.
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