New Delhi: Mahindra''s & Mahindra''s auto components division is eyeing at more acquisitions in Europe. They are looking at deals between $100 million- $200 million worth with five times of EBITDA as ideal for our business. The company was looking primarily in Germany, Italy, Spain and France with relatively less stringent labour laws. Unlike other companies like Bharat Forge or Amtek that have followed the strategy of purchasing loss making European companies and reviving them, Mahindra has been buying profitable companies with better margins at a much higher level. M&M is aiming its automotive division to reach $1 billion by 2010 from $650 million. The company automotive division comprises Mahindra Sourcing, Mahindra Gears, Mahindra Forgings and supplies to OEMS like Tata Motors, GM and Ford amongst others.
Source : www.indian-commodity.com
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