Mahindra & Mahindra to Invest in Captive Foundry.Mahindra & Mahindra, Ltd. (M&M), a 20,000-employee manufacturer of automotive vehicles and components and farm equipment in Bombay, India, will invest in a state-of-the-art, 50,000 ton/yr foundry A semiconductor manufacturer that makes chips for third parties. It may be a large chip maker that sells its excess manufacturing capacity or one that makes chips exclusively for other companies. to meet the demand of critical castings such as engine blocks, heads and transmission cases. M&M Managing Director Anand Mahindra, signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with Mondragon Corp. Cooperative (MCC (The Microelectronics and Computer Technology Corporation, Austin, TX) The first high-tech research and development consortium in the U.S., created in 1982 by leading companies within the electronics industry. ). This will help obtain the technical know-how of Victorio Luzuriaga, a part of Fagor Group of Spain, which, in turn, is a member of MCC Victorio Luzuriaga is a Navarra, Spain-based foundry that serves the European automobile and tractor tractor, in agriculture, vehicle used to pull such equipment as plows, cultivators, and mowers; to power stationary devices such as saws and winches; and to push snowplows and earth-moving implements. industry. |
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