Mahindra & Mahindra Ltd (M&M Ltd) announced its second foray into Turkey through the acquisition of Erkunt Traktor Sanayii A.S. (Erkunt), the fourth largest tractor brand in Turkey. This transaction is expected to close by the last quarter of calendar year 2017.

This association with Erkunt on the back of the Hisarlar acquisition earlier in the year will help in growing Mahindra's farm equipment business in the strategic market of Turkey. With two strong brands such as Mahindra and Erkunt coming together and with a wider combined product portfolio, this association will offer complete mechanisation solutions to the diverse needs of Turkish farmers, thereby creating a more significant presence in Turkey. The association will also build an export business especially in the neighbouring markets of the Middle East, CIS and Europe.

Commenting on the development, Dr. Pawan Goenka, Managing Director, Mahindra & Mahindra Ltd. said "At Mahindra's Farm Equipment Sector, our strategy is to globalise aggressively and also expand our portfolio to include various new categories of tractors and farm machinery. Turkey is a very important market in our globalisation journey and we wish to participate in its entire agri mechanization landscape. The acquisition of Erkunt will enable Mahindra to expand its footprint in the world's 4th largest tractor market".

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