Posted On - 10 Jun 2022
Last year Kubota company raised its equity stakes in Escorts group by purchasing equity shares of 44.8 per cent. As a result, India’s leading brand, Escort tractor and farm equipment, have been renamed Escorts Kubota Limited.
The company discloses in an interview that they got approvals to change the name of the company from Escorts tractor and farm equipment to Escorts Kubota Limited.
They have the same goal of becoming the agriculture market leader worldwide by providing advanced technology. So it was last year when Kubota chose to build its value stake in Escorts to 44.8 per cent by buying new value shares through an open proposal to the investors of Escorts and hence turning into a joint venture of the organisation alongside the Nanda family, whose shareholding has stayed unaltered. Nikhil Nand will keep on being the Chairman and MD of the organisation.
According to Nikhil Nanda, “Our partnership with Kubota in Escorts Kubota has been welcomed by our stakeholders and investors. Consequently, the process was completed smoothly. We are now well poised at a very interesting time in global history to contribute at much higher levels to India and the world’s quest for food security, sustainable agriculture and smart agriculture.”
Additionally, “We are very pleased to partner with Escorts Kubota at a time when we can combine our strengths to provide advanced farm mechanisation solutions to address global food security and enhanced farm productivity needs.”. President and Representative Director, Kubota Japan, Kubota Japan said.
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