14 May 1999

Renault partnership

RENAULT has signed a partnership project with International Tractors Limited, an Indian firm based in Hoshiarpur State of Punjab.

Renault will have a 20% stake in the capital of ITL and enable the company to make cabless Ceres 55hp to 85hp tractors. A joint venture company will be created to distribute in Europe 60% Renault/40% ITL tractors built in India under Renault license. Another firm will distribute tractors and agricultural machines under Renault and Sonalika trade marks out of Europe. &#42