Escorts joins hands with Amul Group for manufacturing specialty tractor – Steeltrac

Tractor maker Escorts Limited has entered into a Joint Venture with Rajkot-based Amul Group for manufacturing specialty tractor – Steeltrac. Escorts will hold 40% stake in Adico Escorts Agri Equipments Private Limited, while Amul would have the rest 60%. The two companies had joined hands in 2012 for the Steeltrac project, a specialised tractor.

CMD Escrots Rajan Nanda said the specialised tractors market has witnessed a phenomenal growth from zero to approximately 20,000 tractor units within last 4our years. Chairman of the Amul Group Chandu Santoki added that for manufacturing specialised-tractors, a modern production facility has been set up at Rajkot with a capacity to produce over 10,000 tractors per year.

Since a year now, 500 tractors under the Steeltrac brand costing Rs 2.45 lakh have been sold in India. “Since the product had a lot of scope, Escorts entered into a JV with Amul. Yet another product would be launched in Q2, while third would be launched around Q4 of the current fiscal,” Shenu Agarwal, VP, Head of Knowledge Management Centre, R&D, Escorts Agri Machinery. The speciality tractor, designed to serve orchards and vineyards would eventually be exported to Asia, Europe and Latin America, Agarwal added.