M&M plan to double their globalrevenue to $5 Billion by 2019 and target global markets for 50% of tractor revenue.
M&M plans to double its global revenue from farm equipment sector (FES) to $5 billion by 2019, targeting that 50% of its total tractor revenue comes from global markets. As part of this overall strategy , M&M will use its three latest acquisitions -Turkish company Hisarlar, Finnish harvester company Sampo Rosenlew and Japanese agri implements business Mitsubishi Agri Machinery -to target big global markets like the US, Brazil, Japan, Mexico, China, Turkey and parts of Europe.
The company is putting up an assembly unit in Brazil and Nigeria. "Our farm machinery revenue target is 20% by 2019, up from 5% in 2015. To that end, we are making key changes in the product mix and the geographic mix," said Rajesh Jejurikar, head of M&M's farm equipment division.