Mahindra Completes Purchase Of Navistar’s Stake In India Joint Ventures
Navistar announced in December 2012 its intention to exit the joint ventures as part of its “Drive to Deliver” turnaround strategy, focused on strengthening its North American core businesses and pursuing near-term initiatives to improve the company’s return on invested capital performance. As announced in December 2012, the agreement allows Navistar to continue sourcing components from India while Mahindra would continue to provide engineering services to Navistar. The Navistar group will continue to support M&M through license agreements and extend necessary support to MNAL and MNEPL for the purposes of business continuity.
Dayco Celebrates Its First Hundred Years
With its celebration slogan “Continuing the Legacy,” Dayco Products, LLC is celebrating its 100th year as a company. In these days of corporate buy-outs and mergers, Dayco has maintained its identity, and in some ways returned to its early roots, to become a highly-respected, worldwide manufacturer of belts, hose, tensioners and related parts for the automotive original equipment and replacement markets. The legacy it celebrates is one of a strong company that has a reputation for an insatiable craving to develop new products, improve established products and increase manufacturing efficiencies.