International Tractors Ltd (Sonalika Group, which also makes the Rhino, pictured above) is in talks with some firms in China and the US to partner in setting up of manufacturing facility to launch its tractors. The company has earmarked Rs 200 crore over the next 3 years for its overall expansion plans. ITL has already tested the prototypes of the tractors in the US market. Besides the company has also started shortlisting companies for acquisition in Europe. ITL has two plants in India and operates five units with local partners in South Africa, Argentina and Jordan. The company has recently partnered up with Argentinian firm Apache to distribute ITL products, which will be assembled in Latin America.
“The Chinese market has challenges and opportunities. We have plans to launch products in China and we will tie-up with a local player for that,” ITL President (International Business) Rajiv Wahi said. “After tying up, we will look for setting up a plant in China. The final decision will be taken by early next year,” Wahi added.
