Two lightweights make bid for Zetor
Two lightweights make bid for Zetor
TWO companies are bidding to buy Zetor, the Czech tractor maker, but neither are mainstream players in world tractor production.
Reports from Czech news agency, CTK, say bids have been submitted by HTC Holding, an industrial concern based in neighbouring Slovakia, and Uzel, which makes Massey Ferguson tractors under licence in Turkey.
This is the final round of a process to find a buyer and technical partner for Zetor, which began in spring last year when creditors approved a settlement plan for Zetors financial woes enabling the factory to keep making tractors.
The business is owned by a state agency charged with restructuring key elements of the countrys industrial sector. It wants to sell to a partner that can provide financial and technical backing to secure future production at the Brno plant.
News agency reports say HTC Holding, which is involved in the manufacture of steel products, machine tools and automotive components, says it wants to maintain production of current Zetor models and also complete development of a planned new line.
It also wants to add tractors in the 175hp to 200hp category and diversify the product line with light construction machinery and equipment.
Uzel, which has produced MF tractors since 1962, has not declared plans for Zetor if its bid wins. It claims 45% of the Turkish market, selling 54hp to 80hp 200-series models through a network of 200 dealers.
Production topped 400,000 units last year, and the company is planning to increase output and efficiency with a move into updated facilities within the next two years, giving an annual capacity of 30,000 units. *