New Delhi, 26th July 2007: Car market leader Maruti Udyog Limited isopting for a new name. The Board of Directors, at its meeting here today, approved a proposal to change the Company's name to Maruti Suzuki India Limited.
This is subject to approval by shareholders. The new name will come into effect only after it is approved by shareholders at the Annual General Meeting, and thereafter by the Registrar of Companies.
In the new name, "Maruti" continues to have a predominant position. "Maruti" is one of the strongest corporate brand names in the country, in terms of awareness, recall, trust and customer care. A generation of Indians has grown up with this brand name.
"Suzuki" in the corporate name imparts an international dimension. Besides being the parent company, Suzuki Motor Corporation is a leading player in the global automobile market. The leader in Japan's minicar market for over three decades, it has recently positioned itself as a complete car maker with the success of its globally strategic models like Swift, SX4 and Grand Vitara.
This international dimension in the Company's name will help Maruti as it expands its role in global markets. The Company is to launch a model for export to Europe in the next couple of years, while building on its recent success in Afro-Asian markets. Maruti is also developing capabilities to become Suzuki's Research & Development hub for Asia, outside Japan. "India" in the corporate name, while conveying the location of the Company and its facilities, also recognizes the growing importance of the country, across the world.
This is subject to approval by shareholders. The new name will come into effect only after it is approved by shareholders at the Annual General Meeting, and thereafter by the Registrar of Companies.
In the new name, "Maruti" continues to have a predominant position. "Maruti" is one of the strongest corporate brand names in the country, in terms of awareness, recall, trust and customer care. A generation of Indians has grown up with this brand name.
"Suzuki" in the corporate name imparts an international dimension. Besides being the parent company, Suzuki Motor Corporation is a leading player in the global automobile market. The leader in Japan's minicar market for over three decades, it has recently positioned itself as a complete car maker with the success of its globally strategic models like Swift, SX4 and Grand Vitara.
This international dimension in the Company's name will help Maruti as it expands its role in global markets. The Company is to launch a model for export to Europe in the next couple of years, while building on its recent success in Afro-Asian markets. Maruti is also developing capabilities to become Suzuki's Research & Development hub for Asia, outside Japan. "India" in the corporate name, while conveying the location of the Company and its facilities, also recognizes the growing importance of the country, across the world.
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