VST Tillers, HTC ally to add power tractor
VST Tillers Tractors, a compact tractors and power tillers maker, on Monday announced a joint venture with the Czech Republic’s HTC Investments, the maker of ‘Zetor’ brand tractors. The JV will be known as VST Zetor.
Antony Cherukara, MD, VST Zetor, said VST, which commands 70% share in India’s compact tractor market, had now entered into a new segment of tractors (41-50 HP range) that currently accounts for 59% of the total 8.75 lakh units of tractors sold in India.
“We have so far been focusing on smaller tractors to help farmers with small land holdings. But India’s farm sector is likely to see a consolidation,” observed Mr. Cherukara, explaining the rationale for the JV.
“Our collaboration also promises to raise agricultural standards in India,” said Filip Soka, vice chairman of VST Zetor, who added that the rm was returning to India after several years.