Sonalika tractor maker claims record export salesApril 19th, 2009 - 7:13 pm ICT by IANS
Chandigarh, April 19 (IANS) The Punjab-based International Tractors (ITL), which sells tractors under the Sonalika brand, Sunday claimed it has achieved the highest export sales among all manufacturers in the country during 2008-09.
The company posted export sales of Rs.105 crore, an increase of over 262 percent over the previous year, its managing director Deepak Mittal said in a statement.
It had earned Rs.40 crore from exports in 2007-08.
“The company has been able to achieve this export record in a year of global turmoil and when the export industry showed a negative growth of 11 percent,” Mittal said.
The Rs.2,000-crore ITL claimed a sales growth of 110 percent within India - the highest among all tractor manufacturing companies in the country. The company’s turnover in 2007-08 was Rs.1,300.
Mittal attributed the growth in exports to its foray into the US market last year.
“This was through the Hobby tractors brand, which are low-powered tractors with 40-45hp and used for gardening,” he added.
The company said it has also bagged orders from 18 countries such as Australia, Russia, Malaysia, Saudi Arabia and other European and African countries, apart from the US. It has set up an assembly plant in Nigeria to cater to the African market.
ITL is also supplying tractor equipment and accessories to leading manufacturers in Europe and South America, Mittal said.
The company has also launched a multi-utility vehicle, Rhino, from its Rs.200-crore plant in Himachal Pradesh. The vehicle is being manufactured in technical collaboration with MG Rover of Britain.
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Tags: african countries, assembly plant, export industry, export record, export sales, foray, global turmoil, himachal pradesh, hobby tractors, international tractors, itl, manufacturing companies, mg rover, previous year, rhino, rs 2, rs 200, saudi arabia, technical collaboration, tractor equipment