Mahindra acquires Erkunt, its second tractor maker in Turkey
Mahindra Farm Equipment, an arm of Mahindra and Mahindra Ltd has announced the acquisition of Erkunt Traktor Sanayii AS, the fourth largest tractor brand of Turkey. The move is part of Mahindra's strategy to expand its global presence in the farm equipment sector and specifically in Turkey. The Turkish market has the fourth largest tractor sector in the world. Mahindra expects the acquisition of Erkunt to be completed by the end of calendar year 2017. This is Mahindra Farm Equipment's second acquisition after it acquired Hisarlar earlier this year to mark its foray into the Turkish market. Looking to the future, Mahindra also recently showcased its first driverless tractor in India to further autonomous mobility in the farming equipment sector.
Dr Pawan Goenka, Managing Director, Mahindra & Mahindra Ltd.
This association with Erkunt and Hisarlar will offer mechanisation solutions to Turkish farmers, as well as export products to the neighbouring markets of the Middle East, CIS and Europe.In addition, Mahindra will also acquire a foundry unit, Erkunt Sanayi AS, involved in castings to machining processes. This foundry unit focuses on producing engine blocks, cylinder heads and transmission cases. Its customer portfolio includes including JCB, MAN, Ford and Deutz.
Team OD | 19 Feb 2018
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