India's Ecsorts acquires Polish tractor JV partner

Newswire

BOMBAY, March 30 (Reuters) - Escorts Ltd. , India's third-biggest tractor maker, said on Wednesday it had acquired its Polish joint venture partner, Farmtrac Tractors Europe. The financial details of the deal were not immediately known. Escorts formed a joint venture with Farmtrac in 2000 to make and market agricultural tractors in Europe. Escorts first held a 49 percent stake, which it increased to 64 percent in 2003. The acquisition will enable Escorts to expand its European base and ...

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