SAME DEUTZ-FAHR SETS UP A JOINT VENTURE WITH ŞAHSUVAROĞLU GROUP
In order to strengthen the co-operation and further develop the tractors business in Turkey, on November 22nd SAME DEUTZ-FAHR and Şahsuvaroğlu Group signed a Joint Venture Agreement which led to the creation of the new company “SAME DEUTZ-FAHR Şahsuvaroğlu Traktör Sanayi ve Ticaret Anonim Şirketi”.
The initial investments in the project amount approximately to 20 million euros and represent an important step for a leading player as SAME DEUTZ-FAHR. Moreover, SAME DEUTZ-FAHR Şahsuvaroğlu Traktör Sanayi ve Ticaret Anonim Şirketi takes over the production plant of Bandirma, which currently products tractors rated 50-80Hp under license of SDF and has a production capacity of 10,000 tractors a year, and the whole distribution network. The JVC will not alter the organisational structure of the company: from the agricultural distribution network point of views there will be no changes.
The Agreement aims at strengthening the prestigious partnership with Family Şahsuvaroğlu, that had a fundamental and strategic role in introducing and developing SDF tractors in Turkey.
“I am highly satisfied with this new agreement: it does not only consolidate our position in such an important market as the Turkish one, but it also allows us to build a direct and significant presence in the whole Middle East region – said Lodovico Bussolati, CEO of SAME DEUTZ-FAHR – This new company is a sign of the excellent work we have done with our partner up to now and represents a great opportunity for our Group.”