Solis Tractors acquires Thaler GmBH to enter wheel loader market; invests Rs 200 crores

Commenting on the latest acquisition, Dr. Deepak Mittal, Managing Director, International Tractors Limited said, “We are excited to announce the acquisition of Thaler GmbH & CO. KG under our Netherlands-based entity Solis Tractors & Agricultural Machinery and we will invest Rs 200 crores for the deal. A leading brand in wheel loader manufacturing, Thaler is well known wheel loader manufacturer in Europe which is known for its reliability and craftsmanship in developing next gen technologies. Being the largest tractor exports brand from India, wheel loaders will be an advantage for our portfolio as they have enormous potential for agriculture, dairy & construction work across EU & USA markets. The move will surely provide high end synergies to existing ITL agri equipment portfolio and strengthen our existing presence in 140+ countries across the world.”

Mr. Manfred Thaler, Owner, Thaler GmbH & CO. KG said, “We are pleased and excited about this acquisition by ITL Group and we believe that this acquisition will bring the ITL expertise into the wheel loader segment. ITL has proven record in tractor segment & they have the largest tractor manufacturing plant in India. Their experience of the industry will enrich the Thaler brand & its employees.” 

The formal takeover was executed at Thaler Factory & Office, Germany in the presence of Dr. Deepak Mittal, Managing Director, ITL Group and Mr. Manfred Thaler, Owner, Thaler GmbH & CO. KG. 

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