Suzuki Motor Corporation’s Indian automobile production and sales subsidiary, Maruti Udyog Limited, is to change its name to Maruti Suzuki India Limited.
The change of name was approved at a meeting of the company’s board of directors on 26 July and will be presented for approval at the Annual General Meeting of the company’s shareholders to be held on 6 September.
The new name is intended to promote sales growth by giving the company an identity consistent with the Maruti Suzuki brand under which its automobiles have become increasingly popular in India.
Maruti began producing and marketing automobiles in India in 1983. To meet growing automobile market in India, it started production at a new plant in Manesar, Haryana, in October 2006 and plans to boost the combined annual production capacity of its Manesar plant and Gurgaon plant to 960,000 units by 2009. Maruti also plans to launch new models in a timely manner and to increase exports to Europe and other overseas markets.
|New company name||Maruti Suzuki India Limited|
|Headquarters location||New Delhi|
|Capitalization||1,445,000,000 rupees (approx. ¥3,800,000,000)|
|Investment ratio||Suzuki Motor Corporation: 54.2%|
|General shareholders and others: 45.8%|
|(as of 26 July 2007)|
|Number of employees||Approx. 4,700|