In June 2005, Tractors and farm equipment (TAFE) acquired the tractor, engines and gear businesses from Eicher group for Rs 310 crore. They were vested with the new subsidiary, Tafe Tractors and Motors (TMTL). That time, it triggered a major consolidation in the tractor industry and moved TAFE closer to leader, Mahindra & Mahindra.
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Courtesy: economictimes.indiatimes.com
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