Mahindra eyes Kenya, others in expansion drive
By Standard Reporter and Reuters | July 1st 2015
India's largest utility and tractor producer, Mahindra and Mahindra, has set up an Africa-focused business unit as it looks to maintain double-digit growth levels in the continent, the company said yesterday.
With an active presence in several African countries, Mahindra and Mahindra hopes the expansion will help spur a 10-fold increase in business over the next five to seven years.
"There is no doubt that the African continent holds tremendous potential and the new African business unit will place Mahindra in a very strong position to strengthen its African presence," Mahindra's South African unit, Chief Executive Ashok Thakur, said in a statement.
Thakur will lead the newly-established continental business unit, based in South Africa, with additional business hubs planned for Kenya, Nigeria and Egypt. South Africa will act as a central distribution channel for all products manufactured within the group, including utility vehicles, tractors and trucks.
The multinational corporation headquartered in Mumbai, Maharashtra is one of the largest vehicle manufacturers in India and the largest manufacturer of tractors across the world. It is a part of Mahindra Group, an Indian conglomerate.
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