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Biz News Korea(Eng)
LS Mtron wins $100 mn order to supply tractors to UkrAVTO
- Collected
- 2017.11.30
- Distributed
- 2017.12.01
- Source
- Go Direct
LS Mtron said on Thursday it signed a five-year contract worth $100 million with UkrAVTO to supply at least 4,500 tractors starting 2018. Posco Daewoo, a Seoul-based trading company, will also serve as a partner in the local assembly and lease business, according to the company.
Under the contract, LS Mtron will ship the tractors in seven models with engine horsepower ranging from 50 to 140, and the vehicles will be delivered in knocked-down kits to UkrAVTO that will complete the assembly. Knocked-down kits are half-built modules that require final assembly for sale and are common export types in the auto and machinery industries.
UkrAVTO is Ukraine’s largest auto group with $1.5 billion in annual sales. It manufactures and assembles completely knocked-down kits of 14 global car brands, including General Motors, Mercedes-Benz, Toyota and Kia Motors, and distributes them in the country.
With the arrangement, UkrAVTO aims to gain a stronger foothold in Ukraine’s agricultural machinery market, while LS Mtron said it will ramp up efforts in the emerging market to make its tractor brand among the global top five.
By Moon Ji-woong and Kim Hyo-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]