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CHENNAI: The Rs 3,200 crore engineering conglomerate Escorts is planning to bring in more technology partnerships in its core farm equipment and construction equipment businesses. According to a top company official, Escorts – which recently introduced Ferrari tractors in India – will follow a partnership strategy in its core business of agri and infrastructure and remain open to tech collaborations in its smaller auto component and railways businesses as well. Said Nikhil Nanda, MD, Escorts: “The agri and infrastructure businesses will always be part of Escorts and we will work with global partners to bring in exceptional value propositions in both categories. In the agri segment, we’ve already brought in Ferrari and we will bring in one more company for which talks are currently on. We will make announcements shortly.” Escorts is also in talks with Ferrari to locally assemble its tractors in India. The partnerships are critical to the company’s new agri business strategy of new platforms, new generation tractors and a crop solution vertical. “There is a portfolio of 7-8 companies with whom we are in talks to provide a bouquet of products for mechanised crop solutions built around a specific crop,” said Nanda. In its other important vertical, railways, too Escorts is pursuing the tech partnership strategy. “Although we are not in specific talks right now, we are always open to partnerships and we’ve got in many many global partners in the railways business through tech collaboration,” said Nanda. In the construction equipment sector too the company is looking to forge partnerships to enter new business niches. “We are already market leaders in the material handling segment and we are now focusing attention on the earth moving segment,” said Nanda. “We are in discussions with large MNC companies in the earth moving business and we will make partnership announcements shortly.”

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