LS Mtron, the industrial machinery and core component arm of Korea’s LS Group, on Monday said it concluded a contract worth 500 billion won ($387.4 million) to supply 28,500 tractors to Italian giant CNH Industrial, the world’s second-largest agricultural machinery company.
LS Mtron from next year to 2025 will supply the tractors mostly for the major markets of North America and Europe.
The tractor is a multi-purpose piece of equipment mainly sold to hobby farmers in both markets or companies specializing in garden landscaping. The machine features user convenience, sustainable level of quality and an eco-friendly engine designated Stage V, a stringent European emissions standard for an off-road diesel engine.
Beginning in Australia and Southeast Asia in 2009, LS Mtron has supplied compact tractors of under 60 horsepower to CNH Industrial under the original equipment manufacturing method. The Korean company’s cumulative sales this year are expected to exceed 1.2 trillion won spanning around 88,000 units.
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