Friday, 02 February 2024 10:55

Turkish delight for tractor maker

Written by  Mark Daniel
Plus-sized tractor manufacturer Buhler Industries has been bought by Turkish business ASKO Holding. Plus-sized tractor manufacturer Buhler Industries has been bought by Turkish business ASKO Holding.

Late last year saw a lifeline thrown to plus-sized tractor manufacturer Buhler Industries, via its acquisition by Turkish business ASKO Holding.

Başak Traktör, which is a wholly owned subsidiary of ASKO Holding, completed the previously announced acquisition of Buhler, which in turn is owned by Combine Factory Rostselmash Ltd – best known for building combine harvesters.

In addition, Başak Traktör acquired all the outstanding debt of Buhler Industries that was owed to parent company Rostselmash. The aggregate cash purchase price paid by ASKO Holding was CAD$60.5 million. The transaction, made up of CAD$28.2 million for the company shares, around $4 million in transaction costs and the remainder in settlement of the debt, with delivery of 96.7% of the Buhler company shares.

Best known for its Versatile and Farm King brands, since the company started operating around 50 years ago, Versatile has the claim of being the first North American manufacturer to mass produce and market articulated four-wheel drive tractors.

Its plant on Clarence Avenue in Winnipeg, Manitoba, Canada has built over 100,000 tractors. Today’s line-up includes articulating fourwheel drive tractors from 405 to 620hp, tracked units from 530 to 620hp and fixed-frame front-wheel assist tractor models from 175 to 365hp.

A complete line of tillage equipment is complemented by Farm King, whose products include grain augers, mowers, bale carriers, snowblowers and compact implements.

More like this

Ecorobotix announces NZ dealership

Swiss-based Ecorobotix has announced its entry into the New Zealand market through a strategic partnership with Canterbury-based New Zealand Tractors.

New home for JCB Agriculture

Power Farming has announced a new chapter in its partnership with JCB, which having represented the UK-based company’s construction equipment for over three years, now sees the relationship expanding to include the renowned JCB Agriculture product range.

CAT's 100th anniversary

While instantly recognised as the major player in construction equipment, Caterpillar Inc, more commonly known as CAT, has its roots set in the farming regions in the west of the United States.

Featured

Crush death triggers on-farm traffic alert

Following a sentencing for a death at a South Canterbury agribusiness, WorkSafe New Zealand is calling on farmers to consider how vehicles move inside their barns and sheds.

Vegetable growing at risk

Horticulture New Zealand says the country’s ability to provide fresh, healthy vegetables is at risk unless the Government makes growing them a permitted activity.

Industry monitoring dry conditions

While it has been a great spring and summer for farmers, soil moisture levels in the Waikato are now plummeting as the dry February starts to bite.

National

Top dairy CEO quits

Arguably one of the country's top dairy company's chief executives, Richard Wyeth has abruptly quit Chinese owned Westland Milk Products…

DairyNZ seeks more cash

For the first time in 17 years, DairyNZ wants farmers to contribute more cash to run the industry-good organisation.

EPA's plan 'not good enough'

The Environmental Protection Authority (EPA) is bolstering its frontline applications teams in a bid to reduce the timeframe for new…

Machinery & Products

New home for JCB Agriculture

Power Farming has announced a new chapter in its partnership with JCB, which having represented the UK-based company’s construction equipment…

CAT's 100th anniversary

While instantly recognised as the major player in construction equipment, Caterpillar Inc, more commonly known as CAT, has its roots…

» Latest Print Issues Online

The Hound

Ruth reckons

OPINION: Ruth Richardson, architect of the 1991 ‘Mother of all Budgets’ and the economic reforms dubbed ‘Ruthanasia’, added her two…

Veg, no meat?

OPINION: Why do vegans and others opposed to eating meat try to convince others that a plant based diet is…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter