ironpeddler
Well-known member
SAN MARTINO, Italy, November 27 (SNS) – Argo S.p.A, a privately-held maker and seller of farm tractors, disclosed it is considering the sale of its farm tractor production assets in Doncaster, England, to Russia truckmaker Kamaz Inc. Terms of the potential deal were not disclosed.
Argo built over 22,200 units of farm tractors last year, while its revenue stood at $1.22 billion.
In addition to the possible asset sale, Argo said it obtained a deal with Kamaz to supply its McCormick-designed farm tractors to Kamaz for sale in Russia. Argo initially will supply the firm with 200 units of vehicles of up to 225 hp that will be sold under the Kamaz brand. Argo is currently building the farm tractors at Doncaster.
Negotiations on the purchase of the assembly line assets at Doncaster, which is scheduled to close at the end of this year, and for the ongoing supply of transaxle assemblies from Argo's Dizier plant in France, are continuing, it added. The move would allow Kamaz to assemble farm tractors at its headquarters in Naberezhnye Chelny based on the McCormick XTX design.
In the future, several models of the McCormick farm tractors with horsepower ranges from 84-225 will be produced at Argo's Fabbrico site in Italy that has obtained major investment for upgrades. "Valuable economies of scale will result from combining the production of Argo's McCormick and Landini tractors on one site," the firm added.
Argo built over 22,200 units of farm tractors last year, while its revenue stood at $1.22 billion.
In addition to the possible asset sale, Argo said it obtained a deal with Kamaz to supply its McCormick-designed farm tractors to Kamaz for sale in Russia. Argo initially will supply the firm with 200 units of vehicles of up to 225 hp that will be sold under the Kamaz brand. Argo is currently building the farm tractors at Doncaster.
Negotiations on the purchase of the assembly line assets at Doncaster, which is scheduled to close at the end of this year, and for the ongoing supply of transaxle assemblies from Argo's Dizier plant in France, are continuing, it added. The move would allow Kamaz to assemble farm tractors at its headquarters in Naberezhnye Chelny based on the McCormick XTX design.
In the future, several models of the McCormick farm tractors with horsepower ranges from 84-225 will be produced at Argo's Fabbrico site in Italy that has obtained major investment for upgrades. "Valuable economies of scale will result from combining the production of Argo's McCormick and Landini tractors on one site," the firm added.
Well I guess that will rule out McCormick as a good tractor.
