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'We will always be open to talks with Tafe'
Business Standard
|December 02, 2024
The legal dispute between Chennai-based Tractors and Farm Equipment (Tafe) and AGCO, the world's third-largest farm equipment manufacturer, over the Massey Ferguson brand began after AGCO announced the termination of its agreements with Tafe in April this year. In one of the company's first interviews since the "tractor war" began, LUIS FELLI, senior vice-president and general manager of Massey Ferguson (Global), speaks to Shine Jacob in a video interview about the issues with Tafe and the road map. Edited excerpts:
How do you look at the controversy from the Massey Ferguson side, as a subsidiary of AGCO?
This is the context today: It is a global brand, growing fast, having invested in technologies, with all the support from AGCO.
On the other hand, India's overall market is huge with over 900,000 tractors sold per year. Between 2021 and 2023, Massey's top line grew 90 per cent. However, we did not grow that much in India.
We have faced several difficulties with the supply we need for the global market from Tafe, including the supply of parts. We have been experiencing issues with quality materials and late supplies, and sometimes we order one tractor and receive another. We don't have a fair market share, and we are unable are board matters, while commercial matters are separate. We have been trying to resolve the commercial aspects for years but have not succeeded. We could not get what we needed from Tafe in terms of commercial aspects-pricing, quality, and the introduction of new technologies in India to ensure that our technology is reaching farmers all over India. The only reason we decided to serve notice to Tafe this April, terminating our contract, is for the farmers.
When Tafe is the single-largest shareholder in AGCO and AGCO holds a significant share in Tafe, why are you not considering an out-of-
This story is from the December 02, 2024 edition of Business Standard.
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