VST signs MoU with Czech Republic's Zetor Tractors
Bengaluru/UNI: Homegrown tractor and farm machinery manufacturing company VST tillers tractors on Saturday entered into a Memorandum of Understanding (MoU) with Czech Republic based Zetor Tractors.
The two companies, with over 120 Years of combined experience, agreed upon the joint product development, manufacturing and business plan for tractors with a horsepower more than 36 HP for India and the global markets.
Under the MoU, the manufacture of tractors by VST will be at its new high horsepower manufacturing unit, sale of the jointly developed product in both the India and global markets through a JV between VST Tillers Tractors Ltd. and ZETOR TRACTORS. The jointly developed products would be sold through VST channel partners in India and Zetor channel partners in the international market, according to a press release here on Saturday.
VST Tillers Tractors Chairman V K Surendra said that VST remains leader in the compact tractor segment and the power tiller segment; this MOU would enable VST to bring better technology in the higher horse power segment for the benefit of Indian farmers.
Speaking on the occasion ZETOR TRACTORS chairman Martin Blaskovic said that this MOU explore the strengths of both parties in product development and marketing and the JV will work towards offering the products and solutions to both India and International market keeping customer requirement first.
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