ARGO TO OPEN BRAZIL FACTORY For production of Landini tractors
Landini tractors will be produced in Brazil at a new factory being built by the Argo Group of Italy to supply the local market.
Landini Landforce
The new facility will be located in Belo Horizonte, the capital city of the Brazilian state of Minas Gerais, and involves an initial investment equivalent to US$13 million (£7.6 million).
"The State of Minas Gerais is situated in an ideal geographical area for the production of agricultural equipment thanks to the comprehensive network of parts manufacturers and qualified manpower located in the area," explains Tiago Bonomo, CEO of Argo Tractors Latin America.
The factory will start manufacturing Landini tractors from 100hp to 180hp before adding models from 60hp. The aim is to cover the entire Brazilian market by offering tractors of high level technological quality and creating a widespread dealer network.
Argo Group revenues amounted to €480 million (£383 million) in 2013, an increase compared to the 2012 figure of €472.9 milion (£375 million) despite the economic and financial difficulties faced in a number of its target markets.