Argo Tractors to build Landini tractors in Brazil
The new facility will be located in Belo Horizonte, the capital city of the Brazilian state of Minas Gerais, and involves an initial investment equivalent to US$13 million (£7.6 million).
“The State of Minas Gerais is situated in an ideal geographical area for the production of agricultural equipment thanks to the comprehensive network of parts manufacturers and qualified manpower located in the area,” explains Tiago Bonomo, CEO of Argo Tractors Latin America.
The factory will start manufacturing Landini tractors from 100hp to 180hp before adding models from 60hp. The aim is to cover the entire Brazilian market by offering tractors of high level technological quality and creating a widespread dealer network.
As a result of on-going investment in product research and development at Argo Tractors, the Landini range will offer flexible solutions to farming customers in Brazil, says Tiago Bonomo.
In Europe, Argo Tractors builds Landini, McCormick and Valpadana tractors in factories at Fabbrico, San Martino in Rio and Luzzara in northern Italy. New production processes are helping to reduce waste, improve productivity and further increase the efficiency of these production assets.
Argo Group revenues amounted to €480 million (£383 million) in 2013, an increase compared to the 2012 figure of €472.9 milion (£375 million) despite the economic and financial difficulties faced in a number of its target markets.
The sales volumes achieved meant Argo substantially maintained its portion of the global market, recording good sales performance in Africa, Latin America, Asia and North America, with exports from Italy accounting for 84.5% of sales revenues, up from 83% in 2012.
EBITDA reached €47.6 million (£38 million), up from €43.8 (£35 million) in 2012, and earnings before taxes were €21.6 million (£17 million), up from €17.3 million (£13.8 million) as a result of improved operational management of the Argo Tractors business.
Argo Tractors is currently in the midst of its most ambitious new product development and launch programme, with new ranges spanning 60-220hp being rolled out this year and further models with continuously variable transmissions and power outputs up to 300hp also in the pipeline.
In Britain, Landini tractors are distributed by sales and service affiliate AgriArgo UK based at Harworth near Doncaster, South Yorkshire.
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