Hello, all!
Some potentially very good news. Two news sources verify that LS Mtron is on its way to the U.S. tractor market.
Lessiter Publications writes this story.
AgriMarketing.com has a similar take on the situation.
Or... just check out the info below.
Tex-tana can read it and weep in their Wheat(ween)ies.
Breaking News: LS Cable to Enter U.S. Market with Its Own Tractor Brand
Ag Equipment Intelligence learned January 21 that South Korean conglomerate LS Cable is directly entering the American market with its own brand and has already started signing up dealers on a limited basis. Until now, LS' presence in America was solely as a supplier, providing compact and utility tractors to the likes of Montana and McCormick.
In late November, LS Cable lost its bid to acquire the defunct Farmtrac North America in Tarboro, N.C., when Montana Tractors made a late $14.1 million offer that surprised many in the industry particularly after LS' lengthy due diligence and intentions to enter the U.S. market with a branded tractor of its own.
"We're putting things together right now for the new company," says Ron Grabowski, a tractor veteran with experience at Mahindra, TAFE, Montana and McCormick. Grabowski is one of four managers helping launch the LS Tractors brand in America. "An advantage we have over distributors is that LS owns the factory," says Grabowski. "That direct line to the factory provides the best communication for parts, service and warranty issues."
Despite the downturn in the American small tractor sales, Grabowski believes that the market is near its floor, and that the timing is now good for the company to be established as sales start to improve. "We're setting up a company that will provide good support for both dealers and their customers."
The company, which intends to hold dealer meetings starting in March, will be located in Tarboro, N.C.
--b
