The formal takeover was executed at Thaler Factory & Office, Germany.
Netherlands-headquartered Solis Tractors & Agricultural Machinery, which is a part of International Tractors Limited (ITL), has acquired Germany-based Thaler GmbH & CO KG to widen ITL’s portfolio with wheel loaders and complement its already existing widest tractor range.
The entire deal will entail a business investment of Rs 200 crores and allow ITL to expand its presence in Europe.
The products of Thaler GmbH & CO. KG which specialises in wheel loader manufacturing are based out of Polling, Germany will complement ITL's advanced portfolio with high-quality wheel loaders in the 19-75 HP range.
The wheel loader market offers significant growth potential with annual sales of more than 80,000 units and Thaler GmbH & Co KG is an established brand in Europe. Post-acquisition, Thaler will continue to operate with an unchanged brand identity. It will be led by Manfred Thaler, as the Managing Director, who is also the son of company founder Mr Johann Thaler, International Tractors said in a statement.
The move will allow ITL to maximize its production capacities & network in Europe which will add to its growth trajectory in the region.
In India, Solis has collaborated with Japanese agri-tech expert Yanmar to develop premium technology-powered tractors. Solis Yanmar has a dynamic presence in India with a fast-growing dealership network and offers a unique proposition of ‘Solis Promise’ which includes a 5-year warranty and 500 hours of oil change interval.
Deepak Mittal, Managing Director, International Tractors Limited said, “Being the largest tractor export brand from India, wheel loaders will be an advantage for our portfolio as they have enormous potential for agriculture, dairy & construction work across EU & USA markets. The move will surely provide high-end synergies to existing ITL agriculture equipment portfolio and strengthen our existing presence in 140+ countries worldwide.”
Manfred Thaler, Owner, Thaler GmbH & CO. KG said, “ITL has a proven record in the tractor segment & they have the largest tractor manufacturing plant in India. Their experience in the industry will enrich the Thaler brand & its employees.”
The formal takeover was executed at Thaler Factory & Office, Germany in the presence of Deepak Mittal, Managing Director, ITL Group and Manfred Thaler, Owner, Thaler GmbH & CO. KG.
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