| Capital Participation of Yanmar in Indian Tractor Manufacturer, ITL |
Yanmar Co., Ltd. recently acquired 12% of the issued stocks of International Tractor Limited (ITL), an Indian tractor manufacturer, having chosen the company as a strategic partner for advancing into the Indian tractor market. The details as follows:
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Investment by Yanmar:
1,512 million rupee (Approx. \3, 800 million)
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Date of Investment:
September 16 |
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Purpose of Investment
The two companies aim to insert Yanmar high-tech in the tractors now being produced by ITL for the joint development of high quality and performance tractors for distribution in India and neighboring countries through ITL's network of 600 dealers in India. |
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Yanmar also aims to provide technical assistance and training to ITL for the procurement of tractor components produced by ITL for use on Yanmar tractors made for international markets. |
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<Reference> |
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Outline of ITL(International Tractor Limited) |
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The 5 th ranked tractor production and sales company in India |
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- Representative : L.D.Mittal (Chairman)
- Location : Hoshiarpur (Pb.) India
- Established : 1995
- Sales : Approx. ¥11,000 million (Mar. 2004)
- Major products : Tractors, tractor transmissions, engines, etc.
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