M&M to buy Turk­ish trac­tor, foundry

India Business Journal - - NEWS ROUND-UP -

Mahin­dra & Mahin­dra (M&M) will be ac­quir­ing Erkunt Trak­tor Sanayii, the fourth-largest trac­tor man­u­fac­turer in Tur­key, from Ar­ma­gan fam­ily. M&M, the world's largest trac­tor man­u­fac­turer by vol­ume and the fifth­largest in terms of rev­enue, has also agreed to ac­quire a foundry unit be­long­ing to the same Turk­ish group. Both the deals, es­ti­mated at around Rs 800 crore, will help

M&M ex­pand its farm equip­ment busi­ness in Tur­key, a strate­gic mar­ket for farm equip­ment glob­ally. Post-deal, M&M will re­tain Erkunt's brand.

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