Japan-based Kubota takes strategic stake in Escorts

Escorts Ltd, one of India’s oldest motor and equipment makers, said Japan-based Kubota Corporation, one of the top tractor makers in the world, will take a 10% stake in the Indian company for Rs 1,042 cr. The partnership, which will go beyond equity participation, will “integrate and deepen their relationship towards achieving their mutual ambition […]

Mahindra raises stake in Finnish agri machinery firm Sempo to 49%

Indian auto maker Mahindra & Mahindra said it has agreed to increase its voting rights in Scandinavian farm equipment maker Sempo to 49.04% from 35% by acquiring shares and convertible instruments at a cost of 4.66 mln euros, or around Rs 37.74 cr. Sempo, founded in 1853 in Finland, had revenue of around 52 mln […]

Mahindra launches high-power tractors under Novo brand in India

Mahindra & Mahindra launched two high-power tractors under its Novo brand. The 65 horsepower variant with two-wheel drive has a starting price of Rs 9.99, while the 75 HP variant with four-wheel drive costs Rs.12.5 lakh. Currently most of the tractors available in India are in the 30-40 horsepower range. Like most tractors sold in […]

Escorts launches tractors with cabin, electric concept in India

Escorts, which makes Farmtrac and Powertrac tractors in India, launched several new models today, including what it called India’s first Electric & Hydrostatic concept tractor as well as high-end models with cabins and tier 4 emission norms compliant CRDi engines. These will be exported to the United States, Europe, Latin America, Africa and ASEAN countries. […]