Indian Corporation Enters Boat Building Biz
 

Mahindra Group enters boat making business
Business Standard Reporter / Mumbai February 17, 2009, 17:21 IST

The $6.7 billion Mahindra Group, one of the top 10 leading business
houses in India, has announced its initial entry into boat
manufacturing. The company will be establishing a presence in the high
potential fibreglass power-boat and catamaran manufacturing industry.

Mahindra's entry into this segment marks the first ever foray of a major
Indian industrial house into the leisure boating industry which has
still recently been characterised by a small number of independent
agencies offering imported versions from international manufacturers.

"After years of taming the toughest terrains we will now explore a new
frontier - water. Our new product Mahindra Odyssea will be high quality
custom designed fibre glass boat in the range of 20-40 feet. In the next
phase, we would look at catamarans and cabin cruisers," said Zhooben
Bhiwandiwala, executive vice president, Mahindra & Mahindra.

Mahindra has a presence in every segment of transport ecosystem and this
is a natural progression explains Anand Mahindra, vice chairman and
managing director, Mahindra Group. "Through Mahindra Odyssea we will
also play a crucial role in developing Indian waterways," said Mahindra.

- - -

Strange timing, eh?