VST Tillers Tractors Limited, a leading manufacturer of agricultural multipurpose power tillers and tractors in India signed an MoU (Memorandum of Understanding) with ZETOR TRACTORS a.s. from Czech Republic manufacturers of tractors, and other equipment. Zetor Tractors is a brand of tractors, trademark and Czech manufacturer based in Brno, Líšeň. The company deals in farming tractors and tractor components.
This MoU is signed for the joint development of higher HP tractor, which would further lead to a joint venture for sales and marketing of these products both in India and internationally. Both companies possess years of experience in their respective fields and have now given a nod to the joint product development, manufacturing and business plan for tractors with horsepower greater than 36 HP for Indian as well as for the global markets.
In this MoU, these critical aspects have been given stress:
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The MoU is to promote the joint development of products
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The MoU is signed allowing VST to manufacture tractors at its new higher horsepower manufacturing facility
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The MoU is signed to promote the marketing of the jointly developed products in both India and the global markets through a JV between VST Tillers Tractors Ltd. and ZETOR TRACTORS a.s. In India, the jointly developed products would be sold through VST channel partners while Zetor channel partners will handle the marketing in the international market.
The objective of the MoU is to explore the marketing of VST products through the channel in the global market.
