A partnership agreement has been signed between Argo Tractors (the Italian manufacturer of Landini, McCormick and Valpadana tractors) and International Tractors Limited (the Indian manufacturer of Solis and Sonalika tractors).
Present at the signing were Valerio Morra, president of Argo Tractors, and Deepak Mittal, managing director of International Tractors Limited (ITL).
ITL is a significant manufacturer of tractors on the world stage.
This strategic agreement involves the provision by ITL of six tractor models (between 45hp and 90hp) to be sold as Landini and McCormick-branded tractors - exclusively to what has been described as "low regulation countries".
"This agreement," said Morra, "marks the beginning of our project with a long-term perspective - implementing for our group a worldwide growth strategy.
"This was outlined during the recent EIMA show in Bologna [Italy]. Our strategy will always focus on our main pillar - the tractor.
"The cooperation with International Tractors Limited will enable us to complete the product range offered to 'low regulation countries', adding a family of basic tractors that complement our existing [tractor] product line-up."
Who or what is ITL?
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).
It's worth noting that ITL has a presence in more than 100 countries. It has overseas assembly facilities in Brazil, Turkey and Algeria, in addition to its main Indian production base.
Argo Tractors: Key numbers
Argo Tractors (a company of the Argo Industrial Group based in Fabbrico, Italy) produces tractors under the Landini, McCormick and Valpadana brands. Its annual (consolidated) turnover is €500 million.
It currently has 1,800 employees, six production plants, eight commercial subsidiaries around the world, 130 importers and over 2,500 dealers.