World’s third largest tractor manufacturer, TAFE successfully acquired the renowned Serbian tractor and agriculture equipment brand IMT.
IMT, an iconic tractor brand is a pioneer in farm mechanisation and tractor technology with a wide range of implements and tractors suitable for cultivating agricultural land, vineyards and orchards, and for infrastructure applications.
Well known for its indigenous R&D, IMT produced a range of tractors between 35 hp and 220 hp and is a popular tractor brand in Eastern Europe, Northern Africa and the Balkans.
TAFE will support its local partner with supply of components and aggregates for the rollout of IMT tractors in Serbia and allied markets.
Through this acquisition, TAFE acquires the right to use the brand and intellectual property rights, including the designs, trademark and copyrights (IPR) of IMT.
Mallika Srinivasan- Chairman & CEO, TAFE, speaking on this recent acquisition said, "TAFE and IMT have shared a long mutually beneficial cooperation. This acquisition will play a key role in TAFE's strategic and growth plans for the future."