Incorporated in the late 1960s, VST Tillers Tractors was promoted as a joint venture by V T Velu and V T Krishnamoorthy with Mitsubishi Heavy Industries. It is engaged in the manufacture of power tillers, tractors and diesel engines.The company came out with a rights issue in 1994 of equity shares and convertible debentures in 1995 to finance its expansion. The company proposes to introduce rice transplanters in the market. The first batch has been imported for test marketing in selected areas. This novel device mechanises the highly labour-intensive and seasonal operations of paddy transplantation. To retain market leadership, it has decided to import higher horse power and technologically advanced power tillers and introduce the same in selective markets. The company has recently ventured to introduce Combine Harvestors at an affordable price to the agricultural sector. VST Tillers is the first company to introduce higher horsepower direct injection technology in India. Through in-house research, the company has completed the certification of 12/13 HP direct injection for VST 130D1 power tiller and introduced 19 HP engine for the Arai, Pune and TUV Germany approved export model MT-180D tractor. To meet challenges of the changing market scenario, VST Tillers set up a export oriented unit, in joint venture with Kinsho Mataichi, Japan, under the name of VST Precision Components. During 2000 the company has taken pioneering efforts in introducing Paddy Transplanter in Indian Agriculture and it has been tested by Several States and the company is also promoting this product to increase the yield and productivity of paddy. The Company is also planning to introduce medium range tractor with fuel efficient low emission K4C Engine and Two moduesl of Power Tillers to add to product variety during 2001. During 2002-03 VST Precision Components Ltd was amalgamed with the company following the approval from shareholders of both the companies. To benefit the logistical advantages the company had set up a Power Tiller assembly Plant a Hosur in 2003.