Tractor manufacturer TAFE acquires Serbian iconic IMT tractor brand

Tractor manufacturer TAFE has acquired the Serbian tractor and agriculture equipment brand IMT - Industrija Masina i Traktora. The acquisition cost is around Rs 45 million.

Mallika Srinivasan, Chairman  & CEO, Tractors and Farm Equipment Limited (TAFE), said that both the companies have shared a long mutually beneficial partnership and the acquisition will play a key role in TAFE’s strategic and growth plans for the future. 
 

IMT is a pioneer in farm mechanisation and tractor technology with a wide range of implements and tractors suitable for cultivating agricultural land, vineyards and orchards and used for infrastructure applications. The implements range