Solis International Tractors Acquires Thaler GmbH For Rs 200 Crore

Solis Tractors & Agricultural Machinery, the flagship company of International Tractors Limited Netherlands, has paid INR 200 crore for the acquisition of Thaler GmbH & CO. KG, a manufacturer of wheel loaders. Thaler, based in Polling, Germany, will add high-quality wheel loaders in the 19-45 HP range to ITL's advanced portfolio, according to a press release.

With annual sales of more than 80,000 units, the wheel loader market offers enormous growth potential, and &Thaler GmbH & CO KG is a well-established player in Europe. Thaler will maintain its current brand identity following the acquisition. Manfred Thaler, the son of the company's founder Johann Thaler, will serve as Managing Director.

The move will enable ITL to maximize its production capacity and network in Europe, contributing to the company's growth trajectory in the region. In India, Solis has collaborated with Japanese agri-tech expert Yanmar to develop premium technology-powered tractors. According to the release, Solis Yanmar has a dynamic presence in India with a rapidly expanding dealership network and offers a unique 'Solis Promise' that includes a 5-year warranty and 500 hours of oil change interval.

"We are excited to announce the acquisition of Thaler under our Netherlands-based entity Solis Tractors & Agricultural Machinery, and we will invest Rs 200 crore in the deal," said Dr. Deepak Mittal, MD, International Tractors. “Thaler is a well-known wheel loader manufacturer in Europe that is known for its dependability and craftsmanship in developing next-generation technologies. Wheel loaders will benefit our portfolio as the largest tractor export brand from India, as they have enormous potential for agriculture, dairy, and construction work across EU and US markets. The move will undoubtedly add high-end synergies to ITL's existing agri-equipment portfolio and strengthen our global presence in more than 140 countries."

"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," said Manfred Thaler, Owner of Thaler. "ITL has a proven track record in the tractor segment, and they have India's largest tractor manufacturing plant. Their industry knowledge will benefit the Thaler brand and its employees."

Dr. Deepak Mittal, Managing Director, ITL Group, and Manfred Thaler, Owner, Thaler, witnessed the formal takeover at Thaler Factory & Office in Germany.

source: ET 

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