Published By : Khetigaadi Team 76
Tractors and Farm equipment limited (TAFE), world’s third largest tractor manufacturer by volumes, has signed an agreement with Japan-based ISEKI & Co, Ltd, to manufacture compact tractors in India.The Japanese firm claims to be the third largest agricultural machinery manufacturer for tractors, planting and harvesting machinery, and engines.
Under this agreement, ISEKI can offer product technology to TAFE for the manufacture of these products for the Indian market.
The scope of the agreement can cover sourcing of components and assemblies through TAFE, building on the volume advantage that TAFE offers.
TAFE can offer ISEKI’s premium light utility compact tractors in the 35-54 hp range in India. These multi-utility light-weight tractors with advanced features can be used for puddling operations, orchard and plantations land preparation, tilling, inter-cultivation and spraying applications to name a few.
The tractors are manufactured in TAFE’s Madurai plant and expected to roll out by 2020, said Mallika Srinivasan, Chairman and CEO, TAFE.
She added, This agreement brings together ISEKI’s rich experience in the light utility compact tractor segment globally and TAFE’s strong position in the Indian market, along with its strong manufacturing capability and robust provide chain, to offer Indian customers an international product range that will meet their requirements in new, emerging applications through a unique value proposition.
ISEKI’s products enjoy a strong market presence in Japan, South East Asia, Australia and USA, and, are reputed for their quality and technology. ISEKI also manufactures tractors for AGCO, with whom TAFE shares a 50-year-old association, the longest partnership in the tractor industry.
Kikuchi, Chairman of ISEKI, on signing this agreement said, “We can enter into the biggest tractor market in the world, India and the Indian subcontinent with the greatest partner called TAFE. We’ll promote technical alliances with TAFE by this agreement and collaborate with each other as important partners not only for India but also for our world strategy in long-term. we tend to believe our world strategy is founded by this cooperation with TAFE, and we hope we can contribute nice relationship between 3 companies to market global strategy together.
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