Financial Daily from THE HINDU group of publications
Saturday, Aug 20, 2005
Financial Daily from THE HINDU group of publications Saturday, Aug 20, 2005 |
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Corporate
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Outlook Same Deutz to import tractors for re-exports Ambarish Mukherjee
New Delhi , Aug. 19 ITALIAN tractor maker Same Deutz-Fahr has decided to import high power tractors in completely knocked down (CKD) forms in India for further exports. The company has its manufacturing facility at Ranipet in Tamil Nadu where the imported tractors will be assembled for further export to neighbouring countries. The company has recently received permission from the Foreign Investment Promotion Board (FIPB) for importing tractors made by its parent company for re-exports as well as to cater to the local market through its dealer network. The Same Deutz-Fahr group is one of leading global manufacturers of tractors, engines, combines and agricultural machineries. It manufactures and sells its products under the brand names of SAME, Lamborghini, Deutz-Fahr and Hurlimann and has four manufacturing facilities located at Treviglio in Italy, Lauingen in Germany, Lublin in Poland and fourth at Tamil Nadu in India. Official sources said that the company has also received permission to import components and spare parts of tractors for subsequent exports and to meet the local demand through its existing dealer network. The company has also decided to develop local sources for manufacturing tractor components and spare parts that meets the company's technical specifications. The company would also use locally sourced components for exports to other countries where its tractors and other agricultural machineries are in operations. The Same Deutz-Fahr group recorded a turnover of around euro 900 million in 2004 with a production of more than 32,000 tractors, 20,000 engines and 20,000 transmissions. In India, the company manufactures tractors in the range of 35 to 90 horse powers of which more than half is exported. After setting up the facility a few years ago as a joint venture, the Italian parent company had converted the Indian subsidiary into a wholly-owned subsidiary in 2002. According to the company's plans, its total investment in India would reach around Rs 200 crore by the end of 2005, official sources said.
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