Escorts and Kubota to jointly manufacture high end technology tractors
Escorts and Kubota Corporation have entered into a global joint venture to manufacture high end technology tractors for domestic and export geographies. Japan-based Kubota Corporation is a leading tractor manufacturer. According to the press release this joint venture will leverage leading Japanese technology from Kubota and Indian engineering excellence of Escorts to cater to an expanding market for higher efficiency, value-oriented utility tractors for a global leadership position.
With an initial capital of Rs. 300 crores, the 60:40 manufacturing joint venture between Kubota and Escorts respectively will enable both partners to optimize their current and future capabilities in the segment globally. The JV will aim to take leading position in domestic and export markets in medium to long term.
The global joint venture agreement was signed by Nikhil Nanda, Chairman and Managing Director, Escorts Limited and Masatoshi Kimata, President and Representative Director, Kubota Corporation, Japan.
@EPC World Media