Escorts Ltd, India’s leading player in Agri Machinery and engineering
and Kubota Corporation, Japan’s biggest tractor manufacturer, announced their
global joint venture to manufacture high end technology tractors for domestic
and export geographies. The agreement on the joint venture was signed by Nikhil
Nanda, Chairman and Managing Director, Escorts Limited and Masatoshi Kimata,
President and Representative Director, Kubota Corporation, Japan.
The 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 investment of 300 crore, 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.
Speaking on the occasion, Nikhil Nanda, Chairman and Managing
Director, Escorts Ltd., noted, “Escorts is evolving in to a global organization
through strategic technology & manufacturing collaborations. Our global
Joint Venture with Kubota is aimed at a technology led collaborative growth in
domestic and export markets. With our inherent strengths, distribution and
engineering benchmarks, together, we will access global opportunity markets and
take a journey to global leadership.”
Masatoshi Kimata, President and Representative Director,
Kubota Corporation, Japan, said, “We are excited to announce our partnership
with Escorts group. Escorts has a strong technology legacy and diversified
portfolio in agriculture equipment solutions market and Kubota has a proven
global technology and together we will cater to India and other growing economies
which require high-end technology and new age tractors for growing demands of
highly mechanized farming. Kubota and Escorts, together, with their leadership
in respective geographies will consolidate strengths and technology &
innovation excellence to emerge as a global leader.”
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