Mitsubishi Motors To Buy Stake In Hindustan Motors
Japan's Mitsubishi Motors Corporation may buy stake in 
Hindustan Motors.
Hindustan Motors' Thiruvallur plant is the likely asset buy option. The plant has a manufacturing capacity of 12,000 vehicles per annum.
Hindustan motors, maker of the Ambassador car, also nmanufactures and sells passenger vehicles, including premium sedan Lancer-Cedia, Outlander, Pajero and Montero, in India in technical collaboration through Chennai car plant with Japanese automaker Mitsubishi.
Transaction Reference: BS
HML currently has two manufacturing facilities in India, one at Thiruvallur and the other at Uttarpara in West Bengal.
It reported a net loss of Rs 42.86 Cr for year ended March 31, 2010. It has made an operating loss of Rs 95 and 90 Cr in the past two years on sales of Rs 602 and 576 Cr respectively.
Hindustan Motors is in the process of approaching Board for Industrial and Financial Reconstruction (BIFR) as its net worth eroded by more than half from the peak in the preceding four years. Its current networth stands at Rs 164 Cr and its accumulated loss stands at Rs 132 Cr.
Previously, Hindustan Motors Limited (HML) had collaborations with Isuzu Motors Ltd. Japan from 1983 -1993, Vauxhall Motors U.K. from 1980 - 1990 and Ricardo Consulting Engineers Ltd U.K. from 1989-1993. HML also owned an Earth Moving Equipment Division (EED) in collaboration with Caterpillar (U.S.A.) for the manufacture of dumpers and excavators, with Terex for the manufacture of dumpers, loaders & dozers and with Fermac (U.K.) for the manufacture of backhoe loaders.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 14/07/10 | Hindustan Motors - Mitsubishi Motors | M&A | Mitsubishi Motor Corporation | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | M&A | OCL Iron and Steel Limited | Aron Auto Limited | - | Completed |
| 05/01/12 | M&A | Ring Plus Aqua Limited | Trinity India Limited (Formerly Trinity Die Forgers Limited) | - | Announced |
| 04/01/12 | M&A | JBM Cadmium Private Limited | TescoGo SPA | 37.62 | Completed |
| 02/01/12 | M&A | Varroc Engineering Private Limited | TriOM SPA | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Hindustan Motors Limited | National Bearing Company Jaipur Limited | Birla Building, 9/1 Rajendra Nath Mukherjee Rd, Kolkata-700001. West Bengal, India. |
Force Motors Limited Maruti Suzuki India Limited SML Isuzu Limited (Formerly Swaraj Mazda Ltd) |
www.hindmotor.com |
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