CNH Industrial announced its intention to expand its partnership with LS Tractor – the agricultural tractor division of OEM LS Mtron. The signed memorandum of understanding and technical cooperation agreement aim to expand the current cooperation with LS Tractor and provide an expanded product offering to capture greater market share and improve positioning in the compact tractor segment.
This agreement establishes financial and industrial terms and conditions to locate production of selected models of compact tractors at the CNH manufacturing facility in Greater Noida, India, and the LS Tractor manufacturing facility in South Korea. According to the company, this will leverage CNH's production capabilities and LS Tractor's components and engineering to increase our speed to market and provide new solutions to our customers.
CNH's statement noted that the expanded product offering on compact tractors "built at our Greater Noida plant will enable us to serve a broader market while leveraging the strength and competitive offering of our Indian supplier base ".
LS Tractor is a distributor of CNH's New Holland Agriculture brand in South Korea.
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