India's Tafe still interested in IMT – Negotiations with Government of Serbia in progress

The Indian Tafe Group is interested in a strategic partnership or the purchase of IMT in bankruptcy in order to produce tractors for the European market above all, but also for the markets of Africa and Asia, stated Kamal Ahuja, deputy chairman of Tafe in charge of Europe, for Tanjug yesterday.

– Tafe is still interested in IMT and is currently negotiating with the Government of Serbia – said Ahuja, who took part in the second session of the Serbia-India Business Forum.

Ahuja said that the negotiations with the Government of Serbia were going well and that he expected an agreement on the joint recovery of the IMT brand to be reached.

He, however, didn't wish to disclose which model of cooperation was being negotiated about – the strategic partnership or the purchase of IMT.

Ahuja reminded that Tafe was a big company, that it mostly produced tractors, but also diesel engines, batteries and capacitors, as well as components for the car and tractor industries. Tafe has an annual turnover of USD 2.5 billion and factories in Turkey, China and India, he added.

– When it comes to tractors, we started cooperating with factories IMT and IMR in Serbia back in the early 1960s – Ahuja said and reminded that the company had the technology similar to that of IMT tractors.

According to him, Tafe would like to produce tractors labeled “made in Serbia” so as to make them more competitive in certain markets.

Ahuja says that Tafe has made a turnover of around USD 250 million in cooperation with IMT and that this is the reason why they are interested in reviving the IMT brand. Furthermore, Serbia has professional work force which is very qualified in its industry thanks to many years of experience.

IMT d.o.o. Beograd

Industrija motora Rakovica a.d. Beograd

Vlada Republike Srbije

Tafe

IMT in bankruptcy

IMR

Kamal Ahuja

sale of IMT

Serbia India Business Forum

tractors

production of tractors

batteries

capacitors

car part production

export of tractors