ITL agri-equipment portfolio to strengthen existing presence in 140+ countries
India’s No.1 tractor exports brand, International Tractors Limited (ITL), has expanded its markets in the European Union and the United States with the Rs.200 crore acquisition of Thaler GmbH & Co KG, a wheel loader manufacturer based out of Polling, Germany.
ITL’s flagship company in the Netherlands, Solis Tractors & Agricultural Machinery, has acquiring Thaler, products from which complement ITL advanced portfolio with high-quality wheel loaders in 19-75 HP range.
Commenting on the latest acquisition, Dr. Deepak Mittal, ITL Managing Director, said on 28 Feb 2023, “Being the largest tractor exports brand from India, wheel loaders will be an advantage for our portfolio as they have enormous potential for agriculture, dairy and construction work across the EU and US markets.
“The move will surely provide high end synergies to existing ITL agri-equipment portfolio and strengthen our existing presence in 140+ countries across the world.
“Thaler is well known wheel loader manufacturer in Europe which is known for its reliability and craftsmanship in developing next gen technologies.”
Wheel loader market offers a huge growth potential with annual sales of more than 80,000 units and Thaler GmbH & Co KG is a well-established player 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 Johann Thaler.
The move will allow ITL to maximize its production capacities and network in Europe which will add to its growth trajectory in the region.
Manfred Thaler added, “We are pleased and excited about this acquisition by ITL Group and we believe that this acquisition will bring the ITL expertise into the wheel loader segment.
“ITL has proven record in tractor segment and they have the largest tractor manufacturing plant in India. Their experience of the industry will enrich the Thaler brand and its employees.”
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 fast growing dealership network and offers unique proposition of ‘Solis Promise’ which includes 5-year warranty and 500 hours of oil change interval. fiinews.com
