JCB expands new Texas factory plans in response to April tariff hike
Since Donald Trump’s import tariff announcement, the world has been on a wild economic ride.
Although there will be no change to the brands or the dealer networks, the Buhler name is to be dropped. The new company, Amalco, is a wholly owned subsidiary of Asko Holdings, which purchased 96.7% of the shares of Buhler Industries in December 2023. Asko Holdings also owns Basak Traktor.
The company says the main reason for the change is that substantial investments are required over the next few years to modernise the Versatile tractor plant in Winnipeg and the Farm King factory in Morden, both located in Canada.
In a move to start both upgrades quickly, with limited disruptions to production, the common shares will be de-listed from the Toronto Stock Exchange and Buhler Industries will apply to cease to be a reporting issuer under applicable Canadian securities laws.
