Monday, February 22, 2010

Mahindra & Mahindra and Mitsubishi Agricultural Machinery tie-up to deliver FarmTech prosperity

February 11, 2010, Mumbai: Mahindra & Mahindra Ltd. (M&M), one of the world’s top tractor brands, and Mitsubishi Agriculture Machinery Company Co. Ltd. Japan (MAM) today signed a License Agreement for a strategic transfer of agricultural machinery technology. This agreement, which outlines an association to provide mechanization for crop specific solutions, was signed at the Mahindra Group’s headquarters in Mumbai, by Mr. Shimizu, President - MAM and Mr. Anjanikumar Choudhari, President - M&M Farm Equipment Sector (FES) & Member of the Group Management Board.

The agricultural machinery technology is being licensed to M&M Farm Equipment Sectors’ Applitrac Business, for manufacturing in India. The agricultural machinery will be sold under the Mahindra Brand name in the domestic market, in addition to exports to China & SAARC countries.

Mahindra & Mahindra’s Farm Equipment Sector has envisaged a new vision of delivering prosperity to farmers across rural India by providing innovative crop specific farm technologies aimed at enhancing productivity, aptly termed as ’FarmTech Prosperity’. The License Agreement with MAM is yet another step towards achieving this vision.

Speaking on this occasion Mr. Shimizu said, “We have been working with the Mahindra team in the US for over 8 years now. We were impressed with their initiative of ‘FarmTech Prosperity’ for Indian farmers. Mahindra has won the prestigious Japan Quality Medal (JQM) and we found a common DNA working with them in India.”

Mr. Anjanikumar Choudhari added, “We are very proud to be associated with Mitsubishi Agricultural Machinery, a reputed global leader in the farm machinery segment. This license agreement will facilitate manufacturing of an extensive variety of farm machinery to provide better skillful mechanization to the farmers.”

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