58.20 (1.87%) Mahindra Defence has signed Memorandum of Understanding (MoU) with ShinMaywa Industries. Signing this MOU offers both the companies to join forces in order to set up MRO services / manufacturing and assembling of structural parts & components for US-2 amphibian aircraft.
Mahindra is the only Indian private sector OEM for small aircraft which sold in many countries globally. Given their joint capabilities it is only natural that both companies have come together and are confident of delivering solutions for this aircraft as mandated by the Indian Ministry of Defence.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.