Agriculture Minister, Branislav Nedimovic confirms that three Indian companies, all engaged in tractor production, have expressed interest in acquiring IMT, the biggest Serbian tractor manufacturer.
“I talked to three manufacturers in India – Mahindra, Sonalika and Tafe. What Serbia really needs is to revive its tractor production. There is a great demand in Northern Africa for the tractors that IMT has been producing”, Nedimovic said for Radio and Television of Serbia.
He added that the government had already received two letters of intent from Indian companies, and added that what had to be done was to resolve the issue of debt that the IMT has accumulated. IMT, the biggest producer of agricultural machinery in Serbia, was declared insolvent in December 2015.
Nedimovic added that other agricultural machinery producers were more than welcome to send their letters of intent for acquiring IMT, and that he was willing to talk to any other interested company too, apart from the Indian ones.
The Mahindra Group is a multinational company and one of around twenty biggest Indian companies. It operates in more than 100 countries worldwide in the fields of aviation, agribusiness, automotive industry, production of construction and industrial machines, energy, finance, IT, hotel business and real estate. The company, headquartered in Mumbai, has more than 200,000 employees and total revenues of USD 17.8 billion. Mahindra is also the largest producer of tractors in the world today.
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