20 November 2023, 09:19
CNH Industrial is set to enhance its compact tractor range through an expanded partnership with LS Tractor, a division of LS Mtron.
The companies have signed a Memorandum of Understanding and a technical cooperation agreement to increase collaboration and extend CNH's product offerings.
The agreement includes localizing production of select compact tractor models at CNH's Greater Noida facility in India and LS Tractor's site in South Korea.
The partnership aims to leverage CNH's manufacturing strengths and LS Tractor's engineering and components to improve market speed and introduce new customer solutions.
CNH anticipates that the expanded compact tractor line produced in Greater Noida will address a larger market and utilize the competitive Indian supplier base.
LS Tractor has been a commercial distributor for CNH's New Holland Agriculture brand in South Korea and has over forty years of collaborative history with CNH's legacy brands.
The strategic alliance is part of CNH's commitment to providing a diverse range of products tailored to meet the specific needs of farmers worldwide.
Confirming our commitment to this product segment through an industrial partnership that enhances capabilities and delivers a more competitive offering in compact tractors for the world’s farmers.
CNH Industrial announces its intention to expand its longstanding partnership with LS Tractor – the agricultural tractor division of the OEM LS Mtron. The Memorandum of Understanding and the technical cooperation agreement signed aim at expanding the current cooperation with LS Tractor and delivering an extended product offering to capture greater market share and enhance our positioning in the compact tractor segment.
This expanded agreement sets forth the financial and industrial terms and conditions to localize the production of select compact tractor models at the CNH manufacturing site in Greater Noida, India and the LS Tractor manufacturing site in South Korea. This will leverage CNH’s manufacturing capabilities and LS Tractor’s components and engineering to increase our speed to market and deliver new solutions for our customers.
CNH expects that this extended product offering in compact tractors built at our Greater Noida plant will enable us to cater to a broader addressable market while leveraging the strength and competitive offering of our Indian supplier base.
LS Tractor is the existing commercial distributor for CNH’s New Holland Agriculture brand in South Korea and has a long history of collaboration with our legacy brands stretching back over four decades. Strategic alliances such as this further our ability to deliver greater choice and tailored solutions that meet our customers’ unique farming needs.
Source: CNH Industrial N.V.