TAFE, the world’s third
largest tractor manufacturer by volume, successfully acquired the renowned
Serbian tractor and agriculture equipment brand IMT - Industrija Masina i
Traktora. The cost of this acquisition is 66.8 million Serbian dinars (Rs 4.49
IMT an iconic tractor brand is
a pioneer in farm mechanisation and tractor technology with a wide range of
implements and tractors suitable for cultivating agricultural land, vineyards,
orchards and used for infrastructure applications. The implements range
includes ploughs, trailers, maize planters, seed drills, cultivators and loader
Well known for its indigenous
R&D, IMT produced a range of tractors between 35 hp and 220 hp and is a
popular tractor brand in Eastern Europe, Northern Africa and the Balkans.
TAFE’s has had a long association
with IMT spanning many decades through business cooperation that involved the
supply of components, aggregates and technical support. TAFE will support its
local partner with supply of components and aggregates for the rollout of IMT
tractors in Serbia and allied markets. Through
this acquisition TAFE acquires the right to use the Brand and Intellectual
Property Rights, including the Designs, Trademarks and Copyright (IPR) of IMT.
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