Hindustan Motors (HM), a C K Birla Group firm, is reportedly planning to sell its Chennai plant to raise minimum of Rs 150 crore. This decision was taken to bring in fresh funds to cut losses and improve performance of its other plants at West Bengal and Madhya Pradesh. The company sought members' approval for the same by a special resolution by way of postal ballot. The ballot will remain open till February 1, 2013.
Hindustan Motors is India’s pioneering automobile manufacturing company manufactures passenger cars, Multi Utility Vehicles and RTV. It also manufactures passenger cars in the mid size premium segment (Mitsubishi Lancer, Lancer Select, and Lancer Cedia) and has brought the Sports Utility Vehicle (Mitsubishi Pajero) into the Indian market, in collaboration with Mitsubishi Motors of Japan.
Hindustan Motors is India’s pioneering automobile manufacturing company manufactures passenger cars, Multi Utility Vehicles and RTV. It also manufactures passenger cars in the mid size premium segment (Mitsubishi Lancer, Lancer Select, and Lancer Cedia) and has brought the Sports Utility Vehicle (Mitsubishi Pajero) into the Indian market, in collaboration with Mitsubishi Motors of Japan.
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