ET reported that TATA Steel is turning to the oldest brand in its stable TATA Agrico to fork lift its share in the fast growing market for mechanized farm equipment.
The company is also diversifying the TATA Agrico portfolio into newer product segments from traditional farm equipment in a bid to breathe new life into the vintage brand.
TATA Steel is also poised to take the brand overseas by launching garden tools under TATA Agrico brand in Europe and the US by the end of this year.
Mr Sarvesh Kumar chief (Agrico business & retail initiatives) of TATA Steel told ET that “With growth in traditional equipment slowing down to 2% to 3 % a year we were faced with a choice whether to allow our oldest brand wither or revive it. That’s when we took a conscious decision to infuse new life into TATA Agrico. In the past five years, the brand turnover has doubled. We are targeting a turnover of INR 300 crore from TATA Agrico by FY12.”
(Sourced from www.steelguru.com)
Thursday, August 27, 2009
TATA Steel Agrico plans mega growth
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