Farms.com Home   News

CNH Industrial Announces Expanded Partnership with LS Tractor

CNH Industrial announced Nov. 8 its intention to expand its partnership with LS Tractor. The Memorandum of Understanding and the technical cooperation agreement signed aim at expanding the current cooperation between the 2 companies and deliver an extended product offering to capture greater market share and enhance CNH Industrial's positioning in the compact tractor segment.

This expanded agreement sets forth the financial and industrial terms and conditions to localize the production of select compact tractor models at the CNH manufacturing site in Greater Noida, India and the LS Tractor manufacturing site in South Korea.

LS Tractor is the existing commercial distributor for CNH’s New Holland Agriculture brand in South Korea.

According to a Dec. 5, 2022, article from The Korea Economic Daily, LS Mtron secured a contract to supply CNH Industrial with 28,500 tractors over the next 3 years. The report said the tractors will mostly be for the North American and European markets. LS Mtron has supplied CNH Industrial with under 60 horsepower tractors since 2009.

Source : Farm Equipment

Trending Video

Weekly Forecast - Eric Hunt

Video: Weekly Forecast - Eric Hunt

Not a lot of moisture to speak of this past week and it feels like someone's been messing with the outdoor thermostat with all these temperature swings. Nebraska Extension Ag Climatologist and "Market Journal" Chief Meteorologist Eric Hunt lets us know what he’s tracking for the week ahead.