Mahindra & Mahindra Enters Indonesian Steel Market
Mahindra Intertrade Limited (MIL), a wholly owned Subsidiary of Mahindra Vehicle Manufacturers Limited (MVML) which is in tum a wholly owned subsidiary of the Mahindra & Mahindra Limited has incorporated PT Mahindra Accelo Steel Indonesia (PT MASI). PT MASI has become a 'subsidiary' of MIL and in tum of MVML and of the company.
MIL has incorporated PT MASI as its subsidiary with the following purposes and objectives for undertaking its business activities:
The purposes and objectives of the company shall be in the field of various types of processing of metals and metal products. To achieve such purposes and objectives mentioned above, the company may conduct the following business activities:
1. providing steel processing services to various sectors in Indonesia, including, without limitation, the electronic transformer, automotive, white goods, and construction sectors;
2. providing any additional services as requested by customers, such as material inventory, packaging and transportation;
3. procurement and sales of steel products in its original form or processed form.