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M&M - Acquisition closure of Auto Designing Company in Turin, Italy Print E-mail
Written by Anand   
Wednesday, 05 March 2008
Mahindra & Mahindra Ltd (M&M) has announced that the Company has successfully closed acquisition of Auto Designing co., G.R.Grafica Ricerca Design S.r.l (GRD), an Italian auto designing, feasibility and styling Company based out of Turin, Italy. M&M acquired this business through an Italian subsidiary Mahindra Graphic Research and Design (MGRD).

GRD is one of the leading Companies based out of Turin, Italy, which executes designing, feasibility and styling work for leading Auto OEMs and Designing Companies based out of Europe and Asia.

The Company employs a team of 60 highly experienced (Average experience 11+ years) people with high technical competence and experience across various designing segment. GRD has developed strong standards and skill sets in body and trim design areas.

For the year 2007, the revenues of GRD were around €6 million. The current GRD management team continues to drive all operations for MGRD.

With this acquisition, M&M intends to develop a global design centre for the Group and cater to global Auto OEMs.



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