INDIA: Why HM sold out to Caterpillar
Although Hindustan Motor officials will probably cringe in agony, the sale of the company's earthmoving division to Caterpillar makes sense, says Arjab Basu. The sale of Hindustan Motor's earthmoving division will go a long way towards the restructuring of the company as a whole. Applying common sense and logic would see the proceeds from the proposed sale - 3375 million rupees ($US73 million) - go into the financial restructuring of HM's plant at Indore, in Western India. Borrowings would be paid off, production lines would be revamped and the whole plant would become much leaner and more efficient.
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