Utility vehicles manufacturer, Mahindra and Mahindra (M&M), is looking at reinstating the complete personnel fired by South Korean SUV maker Ssangyong Motor Co by the coming 2-3 years period.
Mahindra and Mahindra president (automotive and farm equipment sectors) Pawan Goenka made this statement.
Ssangyong, took over by Mahindra and Mahindra during November 2010, had fired 2,600 workers (or 37% of its overall workforce) in the year 2009, because of a rigorous liquidity crunch.
Mr. Pawan stated, “When we purchased Ssangyong, we had bought it keeping all these things behind us. So, there is nothing that we have exercised in terms of layoffs after we accepted. But, our aim is as the biz conditions perk up and our sales figures escalate, we will beginhiring some of these individuals back.”
While talking to media persons after rolling out the company’s compact sport utility vehicle Mahindra Quanto in the Hyderabad yesterday, Mr. Goenka said even though Ssangyong’stotal sales figures grew in 2011, the Korean and European zones, the not-so-vitalarenas for Utility vehicles manufacturer but major for Ssangyong, had witnessed a degrowth.
Rexton to hit roads by next month
The premium sport utility vehicle from Ssangyong, Rexton, the foremost of the three vehicles, which have been aligned by Mahindra and Mahindra and the Korean firm, will be introduced by the coming month.
Mr. Pawan added that they are making an investment of more than Rs.1,500 crore for the progress of Rexton alone.
Production at AP tractor facility by the next 3 months
Goenkaadded up that M&M will formally beginfabrication at its tractor facility in Zaheerabad, Andhra Pradesh, by the next 3 monthsfrom now. The company had set up the tractor facility on 100 acre with a overall investment of Rs.300 crore.
