Mallika Srinivasan, Chairman and Chief Executive Officer of Tractors and Farm Equipment Limited (TAFE), has been inducted into the board of AGCO Corporation of the U.S., a globally renowned manufacturer and distributor of agricultural equipment.
Her appointment takes immediate effect, says a release from TAFE.
“Massey Ferguson (now owned by AGCO Corporation) and TAFE have had a long association of over 50 years. This is a testimony to TAFE's core values of trust and long-term association with our stakeholders. AGCO and TAFE have constantly endeavoured to leverage mutual competencies to provide enhanced value to the customer and achieve accelerated growth,” the release quoted Ms. Mallika Srinivasan as saying.
TAFE and its subsidiaries reported a turnover of $1.3 billion in 2010-11 with a sale of about 1.17 lakh tractors. TAFE is India's largest exporter of tractors with exports to over 47 countries and to AGCO for sale through their distribution channels in specific markets.
TAFE, an Amalgamation Group company, is the third largest manufacturer of tractors in the world. TAFE is well-known for its design, styling, prototyping and manufacturing tractors, including a complete range of tractors for sale by AGCO in North American markets under the Massey Ferguson brand. TAFE's products are market leaders in several South Asian markets.
Apart from its Turkey plant, TAFE has four tractor plants in India that produce a range of tractors in the sub-100 hp range in both the air-cooled and water-cooled platforms under the TAFE, MF and Eicher brands. Additionally, through wholly-owned subsidiaries, it manufactures diesel engines, tractor components, gears and transmission components, hydraulic pumps and cylinders, panel instruments, engineering plastics and batteries.
