Escorts enters into a Joint Venture with Amul Group for manufacturing Specialised Tractors
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, 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.”
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.”