The Hindu Business Line : M&M buys two-wheeler design house

Mumbai, June 5 Mahindra & Mahindra Ltd. (M&M) said on Thursday that the company signed an agreement with Italian two-wheeler design house, Engines Engineering, to acquire its business. The company did not disclose the cost of acquisition.

Engines Engineering’s with an annual revenue of about Rs 50 crore is primarily into two-wheeler design and developing of motorcycle prototype.

Engines Engineering carries out a full range of activities including conception, design, styling, on line assembly, industrialisation and marketing, said a release from Mahindra. Its clients include international two-wheeler manufacturers Benelli, Ducati, Honda, LEM and Yahama.

Mahindra has acquired almost a dozen auto component/engineering companies in India and overseas during the last two and a half years. The company had acquired another Italian design house GR Grafica Ricera in January.

Following this, with ICICI Venture Fund Management, Mahindra took over Italian gear maker Metalcastello.

“Instead of making auto components for ourselves, we want access to global auto component and engineering service market. These acquisitions are part of that,” Mr. Hemant Luthra, President of Mahindra’s auto component division Systech told Business Line.

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