News: Escorts eyes entry in 7 countries
(ACERC 03/04/2006) New Delhi - Betting big on Africa for its tractor exports growth, Escorts Ltd is looking for joint ventures in new markets in the continent where it has set a target of selling about 2,000 units this year.
Plans are in the pipeline to enter seven new countries in Africa to sell our tractors, some of which should materialise during this year. The company was looking for partnership, mainly in the form of a joint venture, for marketing and distribution.
The company looking in arrangements where the local partner puts in the majority of investment while it provides product and technical support system. Usually, Escorts appoint one distributor partner in a particular country and all the dealers there are catered through that distributor.
The company, which is already present in nine countries of the African continent through exports of completely built units (CBU), is eyeing to sell about 2,000 units this year. Already, Escorts is in the last leg of despatching 1000 units to Ghana, which is one of the biggest order we have got so far from the continent, the company had also sold about 400 units, which are in the 40-75 horse power range, in Senegal.
The company was looking at an overall revenue of around Rs 250-300 crore this year from its overseas exports. The company markets its tractors in the US, Sri Lanka, Bangladesh and Europe apart from the African continent.
Plans are in the pipeline to enter seven new countries in Africa to sell our tractors, some of which should materialise during this year. The company was looking for partnership, mainly in the form of a joint venture, for marketing and distribution.
The company looking in arrangements where the local partner puts in the majority of investment while it provides product and technical support system. Usually, Escorts appoint one distributor partner in a particular country and all the dealers there are catered through that distributor.
The company, which is already present in nine countries of the African continent through exports of completely built units (CBU), is eyeing to sell about 2,000 units this year. Already, Escorts is in the last leg of despatching 1000 units to Ghana, which is one of the biggest order we have got so far from the continent, the company had also sold about 400 units, which are in the 40-75 horse power range, in Senegal.
The company was looking at an overall revenue of around Rs 250-300 crore this year from its overseas exports. The company markets its tractors in the US, Sri Lanka, Bangladesh and Europe apart from the African continent.
posted by InCar Group Press Room at 16:05
0 Comments:
Post a Comment
<< Home