Argo Tractors targets €1 billion turnover within 5 years
Argo Tractors (the Italian manufacturer of Landini, McCormick and Valpadana tractors) has ambitious plans for the next five years.
At the recent EIMA show in Bologna, Italy, Alberto Morra (a member of the company’s management committee) explained: “Our objectives for the next five years are to further expand our product range, both downwards and upwards.
“We will become even more global to reach all those parts of the world where we are still not yet present. We will compete more broadly to achieve even more ambitious goals, thanks to what has always been and always will be our primary focus – the tractor.”
Simeone Morra, corporate business director, added his comments to the mix, saying: “Our next objectives focus on the conquest of the Eastern markets – from Russia to India and China.
“We will create new commercial partnerships based on the example of what was done with Anadolu in Turkey; the opening of new branches and the development of existing ones like in South Africa; the growth of long-standing co-operations like in Tunisia; and the identification of new importers and distributors in strategic areas like Denmark and Romania.”
According to well-known farm machinery magazine (and website) Profi International, Argo Tractors produced over 22,000 tractors in 2017 – notching up sales of €500 million in the process.
The outlet reports that the manufacturer has publicly stated its intention to increase turnover to €1 billion over the next five years. For the record, 5.5% of its annual turnover is currently ploughed into R&D (Research & Development) activities.
In related news, Argo Tractors recently signed a partnership agreement with International Tractors Limited (the Indian manufacturer of Solis and Sonalika tractors).
International Tractors Limited is an Indian company that produces tractors stretching from 20hp to 120hp.
It’s the market leader (in terms of sales volumes) in four separate countries. It claims to be the sixth largest tractor manufacturer in the world (by volume).