TAFE to set up plant in Turkey

Chennai based Tractors and Farm Equipment Limited (TAFE) announced on Monday its greenfield investment at Manisa in Turkey to manufacture 15,000 tractors a year. According to sources from the industry, the investment in this project would be around $20 million to $22 million. The first tractor from the new plant is expected to be rolled out during the first quarter of 2009. TAFE’s chairman and managing director, Mr A. Sivasailam, said, "Turkey is strategically important for us. TAFE has, over the past few years, invested significantly in developing tractors in the sub 100 HP range for a variety of applications for discerning customers in both the domestic and overseas markets." *** Retailer focuses on tier II cities After the launch of its discounted retail mall Coupon in Bengaluru, Raipur, Hyderabad and Calicut, Prateek... [read full story]