According to a Dec. 5 article from The Korea Economic Daily, LS Mtron has secured a contract to supply CNH Industrial with 28,500 tractors over the next 3 years, which is reportedly worth $387.4 million.
The major suppliers of compact and utility tractors into the North American market are enjoying an exports boom with Daedong (Kioti), LS Mtron and TYM all reporting record half-year sales figures thanks to a buoyant market.
LS Tractor, the tractor division of the LS Mtron, headquartered in South Korea, confirmed to Ag Equipment Intelligence its intention to double the production capacity of its Brazilian factory in Garuva, Santa Catarina.
In the year that Escorts, the Indian tractor and construction machinery business, finished paying off historical debts to a former supplier, the group saw revenues climb 23.5% above the prior 12 month period.
After making major strides in increasing sales in the U.S. and Canada, LS Mtron, the South Korean-based manufacturer of the LS brand of compact and mid-range tractors, is eyeing Brazil as its next target for growing revenues.
South Korea’s second biggest tractor maker — the LS Mtron division of LS Group — aims to ship $15 million worth of tractors to Iran this year with a view to expanding its presence in the Middle East and Africa.
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In this episode of On the Record, New Holland Agriculture President Carlo Lambro talks about the future of the company's North America network. In the Technology Corner, Noah Newman takes a look at the recently award-winning One Smart Spray system.