Maruti Udyog posts profits, to change name to Maruti Suzuki India

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According to a company statement, the new name was approved by the company's Board of Directors and will come into effect only after it is approved by shareholders at the Annual General Meeting, and by the Registrar of Companies.

The company said that 'Maruti' in the new has been continued with since it is one of the strongest corporate brand names in the country, in terms of awareness, recall, trust and customer care.

"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 statement added.

Maruti said that the international dimension in the company's name will help it expands its role in global markets.

'India' in the corporate name, said Maruti, would convey the location of the company and its facilities and also recognises the growing importance of the country, across the world.

Maruti is set to launch a model for export to Europe in the next couple of years, while building on its recent success in Afro-Asian markets. The company is also developing capabilities to become Suzuki's Research & Development hub for Asia, outside Japan.

Last Thursday, Maruti Udyog posted 26 percent increase in net profit to Rs. 499.6 crore for the quarter ended June 30, 2007 compared with Rs. 369.57 crore for the same quarter previous year. The auto major's total income increased to Rs. 4154.07 crore in the June quarter from Rs. 3268.77 crore a year ago.

It may be recalled that many companies are adopting new names to express its identities keeping in step with India's growing prominence in the world.

Recently, FMCG major Hindustan Lever Ltd. (HLL), owner of popular brands like Liril, Lux, Brooke Bond, Kissan, Lakme and Kwality Wall's, announced that it would be known as Hindustan Unilever Ltd. (HUL). It has also unveiled a new logo.

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