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Yanmar procures 12% stake in International Tractors
 
Yanmar procures 12% stake in International Tractors
To help the growing Indian market 12% stake in International Tractors will help it enter the growing Indian Tractor Market. YanmarJapans second largest tractor maker has agreed to buy 12% stake in Indias No 4 agri-machinery maker . Deal will help Yanmar by getting ITL access to new technologies and overseas markets. The proceeds from the deal will be used to improve and expand ITLs manufacturing facilities besides diversifing into the passenger vehicle market early next year. This is the second mega deal to be struck this year. Tractors produced with Yanmar will be sold under a joint brand. An analyst stated " With agriculture growing, a lot of international tractor and agri-machinery majors are renewing focus on India. Besides, Indian firms are spreading their wings in global markets. Such deals get the Indian Firms easy access to markets and technology in the developed world. ITL had earlier sold 20% to Renault Agriculture but bought back the holding after RA was acquired by Cllas. Mittal said that the deal will provide ITL the technology to locally produce new generation tractors.He said" These tractors will be sold in India and abroad. We will market them here under a joint brand." Further more, Yanmar will also source components from ITL and the local market to use at its manufacturing facilities in Japan.
Posted On : 10/10/2005 6:28:37 PM

 
 
 
Yanmar procures 12% stake in International Tractors