TAFE Asserts Rightful Ownership of Massey Ferguson Brand in India and Files Contempt of Court Petition Against AGCO
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Highlights TAFE’s integral role in building the Massey Ferguson brand in
India over the last six decades -
Believes AGCO’s recent attempt to terminate TAFE’s right to use the Massey Ferguson brand in
India violates the interim status quo order of the Commercial Court inChennai - Questions the timing of AGCO’s decision to terminate its long-standing partnership with TAFE after TAFE raised concerns regarding AGCO’s strategy and performance in its capacity as a long-term, strategic shareholder
In connection with the legal action against AGCO, TAFE issued the following statement:
“Since our inception in 1960, TAFE has produced, built, and nurtured the Massey Ferguson brand, which today offers a wide product portfolio of more than 500 models in
TAFE is the second-largest producer of tractors in
TAFE’s products are India-centric in design, are distinctly different from AGCO’s products, and are ideally suited for small and medium-sized farmers in
Prior to this year, we have enjoyed a successful, long-standing partnership with AGCO. We acquired a shareholding in AGCO in 2012 and have grown to become the Company’s single-largest shareholder with a long-term, strategic focus, thus strengthening the collaborative relationship between our companies. For more than a decade, we have signed ‘Letter Agreements’ that have assured AGCO of our steady support.
Unfortunately, AGCO has ignored issues that we have repeatedly called attention to, including flaws regarding the Company’s governance, wholly inadequate engagement with shareholders, and financial and operational underperformance in key areas. Rather than address these matters, AGCO has instead sought to stifle TAFE’s ability to seek changes through contentious and ill-advised moves with respect to brand usage – an area that has been uncontested and resulted in a fruitful partnership for nearly 65 years.”
About TAFE
TAFE TRACTORS is the signature brand of TAFE -
TAFE has earned the trust of customers through its range of products, which are widely acclaimed for their quality and low cost of operation. A strong distribution network of over 2,000 dealers effectively supports TAFE’s four iconic tractor brands -
Beyond tractors, TAFE and its subsidiaries have diversified business interests in areas such as farm machinery, diesel engines and gensets, agro-industrial engines, engineering plastics, gears and transmission components, hydraulic pumps and cylinders, vehicle franchises, and plantations.
TAFE is committed to Total Quality Management (TQM). In recent years, various manufacturing plants of TAFE have garnered numerous ‘TPM Excellence’ awards from the
TAFE’s JRehab won the ‘Best Private Employer Award’ for the ‘Welfare of Differently-Abled Persons’ from the Tamil Nadu Government in
In 2018, TAFE became the first Indian tractor manufacturer to win the Frost & Sullivan Global Manufacturing Leadership Award, being recognized with the ‘Enterprise Integration and Technology Leadership’ award, as well as two ‘Supply Chain Leadership’ awards. In recognition of its outstanding contribution to engineering exports, TAFE has been named the ‘Star Performer - Large Enterprise (Agricultural Tractors)’ by the
TAFE's tractor plants are certified under international standards ISO 9001 for efficient quality management systems and ISO 14001 for environmentally friendly operations.
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