Escorts Enters into a Joint Venture with Amul Group for Manufacturing Specialised Tractors
New Delhi, 13 April, 2015, Escorts Limited, India’s leading tractor manufacturer, has entered into a Joint Venture with Rajkot based Amul Group for manufacturing specialty tractor – Steeltrac. Escorts had joined hands with Amul Industries in 2012 for development & distribution of Steeltrac, a highly successful speciality tractor.
Steeltrac is a specialised tractor which is complimentary to general purpose tractors which can efficiently facilitate operations like inter-weeding for farmers growing row-crops such as groundnut, cotton and sunflower. Steeltrac will additionally revolutionize by mechanizing local, short distance haulage in the country. The market for specialised tractors has been growing tremendously and this strategic investment will further enhance Escorts’ commitment towards bringing a wider range of products to Indian farmers.
Speaking on the alliance, Mr. Rajan Nanda, Chairman and Managing Director, Escorts Limited, said, “The Escorts- Amul joint venture is an excellent strategic fit, presenting a unique opportunity to leverage the complementary strengths of our robust product portfolio. There has been an exponential growth in the specialised tractors market and Escorts is glad to be a part of this segment. The market has witnessed a phenomenal growth from zero to approximately twenty thousand tractor units within last four years. Steeltrac extends the Escorts quality assurance to farmers in these niche segments and with the reach of distribution that Escorts has we will expand and lead these segments in the times to come.”
Mr. Chandubhai K. Santoki, Chairman, Amul Group, said, “Amul is known for providing world class quality products at unmatched cost. For manufacturing specialised-tractors, we have set up a modern production facility at Rajkot with a capacity to produce over 10,000 tractors per year. The Escorts-Amul partnership will go a long way in addressing the farmers with special needs.”
About Escorts Group
The ESCORTS GROUP is among India's leading engineering conglomerates operating in high growth sectors of Agri Machinery, Material Handling & Construction Equipment, Railway Equipment and Auto Components. The Group has earned the trust of over 5 Million customers by way of product and process innovations over six decades of its existence. Escorts endeavors to transform lives in rural and urban India by leading the revolution in agriculture mechanization, modernization of automotive & railway technology and transformation of Indian construction.
About Amul Group
Amul Group is a leading, global manufacturer of automotive components serving almost every major vehicle manufacturer worldwide. Headquartered in Rajkot, Amul has state-of-the- art manufacturing units at various locations in India with a team of over two thousand people.