VST Tillers enters Southern Africa market, inks distributorship deal with ETGL Africa; Stock ends 5% up

The objective behind the distribution model of VST Tillers Tractors in ETGL’s portfolio is to expand its offering in the industry.

Sep 07, 2021 04:09 IST India Infoline News Service

VST Tillers
VST Tillers Tractors Limited (VST) has launched the VST range of Tractors and Power Tillers in Southern Africa. The company has entered into an agreement with ETG (Export Trading Group), for the distribution of its Tractors, Power Tillers, Power Reapers and Diesel Engines in the Southern African markets including South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia.

Antony Cherukara, CEO of VST Tillers Tractors Ltd said “VST is one of the fastest-growing brands in the agriculture segment and commands a leadership position in Power Tillers and 4WD Compact Tractors. We are focused on international business with exports of Tractors, Power Tillers, Power Reapers and Diesel Engines to more than 40 countries in Europe, Asia and Africa. Farm holding in most of the Southern African countries is dominated by small and marginal farmers, thereby making these small farm mechanization technologies a very relevant option."

Cherukara added, "We are happy to be associated with a distribution partner like ETGL for bringing our products into Southern Africa. Their expertise and knowledge of the African market will be further accelerating our growth plans in the continent."

Rajeev Saxena, CEO, ETGL, commented, “the launch of VST TILLERS & TRACTORS will create more opportunities for the Group to delve deeper into the Southern African Farm Equipment Market serving a wide range of customers, this also aligns with our commitment to the farming community. We are excited to announce this launch and about making quality farming solutions easily accessible and available to both emerging and commercial farmers. Our vision is to launch a range of products that can effectively reach and serve a diverse customer base while offering value-driven farming solutions. These VST TRACTORs are versatile and can be used for varied purposes right from land preparation to use inside the tunnels. The Power Tillers or the walk-behind tractors are more appt to farmers with small landholdings."

As per the regulatory filing, the objective behind the distribution model of VST Tillers Tractors in ETGL’s portfolio is to expand its offering in the industry. The launch introduces the complete range of VST’s Tractors and Power Tillers into the Southern African market. The range extends from 18 HP (13.3 KW) 4WD to 50 HP (37.28 KW) Tractors and Small Farm Mechanization implements like Power Weeders, Power Reapers and Power Tillers ranging from 5 HP (3.7 KW) to 16 HP (11.8 KW).

ETGL, a global conglomerate with expertise across various industries, operates an established Automotive and Farm Equipment Distribution business in the Southern African region.

The South African dealer network consists of 15 dealers nationwide, with a target to reach up to 25 dealers by March 2022.

The Tractor range starts at R 145,000 excluding VAT while the Power Tillers start from R 75000 excluding VAT. They are available at dealerships throughout the region and demos can be booked via the dealer network.

On Sensex, VST Tillers finished at Rs2782.55  per piece up Rs138.30 or 5.23%. 

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