Mahindra Systems and Automotive Technologies (MSAT), the auto components arm of Mahindra and Mahindra (M&M), is on an acquisition spree.
MSAT is in an advanced stage of negotiations for acquisition of at least four overseas companies in the areas it operates – stamping, composites, forging and gear box. The total acquisition cost may be around Rs 1,000 crore.
Sources close to the development said the acquisitions would help MSAT to register sales of $1 billion, way ahead of its target of achieving this level by 2010. The company last year registered sales of $800 million.
(Source: Business Standard)
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