Eicher Tractors Shelves Plan On Hmt Takeover

The Rs 400-crore Eicher Tractors, a business unit of Eicher Ltd, has shelved plans to participate in the takeover of the government owned HMT Tractors.

Rakesh Jinsi, general manager, marketing, Eicher Tractors said: "The government called bids for privatising the company. But the proposition seems to be off from the government's side. HMT Tractors does not figure in the PSU privatisation list."

Jinsi was addressing mediapersons on the launch of their latest tractor model in Karnataka. The company plans to increase its share in the southern tractor market by opening regional offices in Tamil Nadu, boosting their dealership network from 12 to 20 in Karnataka and setting up service units. It hopes to sell around 1500 numbers of Shahenshah, their new model in the south.

 

Future plans include increasing the 600 tractors per month production capacity of the new model with an initial investment of Rs 50 crore and setting up a manufacturing facility at Mandideep in Bhopal. The new plant will manufacture tractors with higher horse power.

Eicher Tractors shelves plan on HMT takeover