Subsequently, it entered into a 50:50 joint-venture with the Escorts Group in 1996. However, in August 2001, Yamaha acquired its remaining stake becoming a 100% subsidiary of Yamaha Motor Co., Ltd, Japan (YMC). entered into an agreement with YMC to become a joint-investor in the motorcycle manufacturing company "India Yamaha Motor Private Limited (IYM)". IYM operates from its state-of-the-art manu
facturing units at Surajpur in Uttar Pradesh and Faridabad in Haryana and produces motorcycles for both domestic and export markets. With a strong workforce of more than 2,000 employees, IYM is highly customer-driven and has a countrywide network of over 400 dealers. MAW was founded 46 years back by its past Chairman Mr. Agarwal by setting up an Engineering workshop in Biratnagar. It entered into agencies of automobile ancillary products like Goodyear Tyres, Mico Bosch, Mahale, Goetze, Talbros Gaskets etc. It took over the dealership of Ford Tractors in 1972 & Sold 164 Tractors in the 1st year of operation. It took the Dealership of Escorts/Rajdoot Motorcycles (Now YAMAHA) It promoted United Finance Ltd. It started Engg. Division in 1998 with products like Greaves Genset, Ingersoll-Rand Compressors, Mettler Tolledo Weigh Solutions and ECEL material handling products. It started construction equipment division with JCB dealership started in last quarter 2002. It started SKODA business in the year 2009.
