ITL arm Solis Tractors acquires Germany-based Thaler GmbH for INR 200 crore

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Wheel loader market offers a huge growth potential with annual sales of more than 80,000 units.

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Wheel loader market offers a huge growth potential with annual sales of more than 80,000 units.

New Delhi: Solis Tractors & Agricultural Machinery, the flagship company of International Tractors Limited (ITL) Netherlands, has acquired Thaler GmbH & CO. KG that specialises in wheel loader manufacturing for INR 200 crore. Based in Polling, Germany, Thaler will complement ITL’s advanced portfolio with high-quality wheel loaders in 19-75 HP range, the company said in a media release.

Wheel loader market offers a huge growth potential with annual sales of more than 80,000 units and Thaler GmbH & Co KG is a well-established player in Europe. Post-acquisition, Thaler will continue to operate with an unchanged brand identity. It will be led by Manfred Thaler, as the Managing Director, who is also the son of the company founder Johann Thaler.

The move will allow ITL to maximize its production capacities and network in Europe which will add to its growth trajectory in the region. In India, Solis has collaborated with Japanese agri-tech expert Yanmar to develop premium technology powered tractors. Solis Yanmar has a dynamic presence in India with a fast growing dealership network and offers a unique proposition of ‘Solis Promise’ which includes 5-year warranty and 500 hours of oil change interval, the release said..

Deepak Mittal, Managing Director, International Tractors Limited, said, “We are excited to announce the acquisition of Thaler GmbH & CO. KG under our Netherlands-based entity Solis Tractors & Agricultural Machinery and we will invest INR 200 crores for the deal. A leading brand in wheel loader manufacturing, Thaler is a well known wheel loader manufacturer in Europe which is known for its reliability and craftsmanship in developing next gen technologies. Being the largest tractor export brand from India, wheel loaders will be an advantage for our portfolio as they have enormous potential for agriculture, dairy and construction work across EU and the US markets. The move will surely provide high end synergies to existing ITL agri equipment portfolio and strengthen our existing presence in 140+ countries across the world.”

Manfred Thaler, Owner, Thaler GmbH & CO. KG, said, “We are pleased and excited about this acquisition by ITL Group and we believe that this acquisition will bring the ITL expertise into the wheel loader segment. ITL has a proven record in the tractor segment and it has the largest tractor manufacturing plant in India. Their experience of the industry will enrich the Thaler brand & its employees.”

The formal takeover was executed at Thaler Factory and Office, Germany in the presence of Deepak Mittal, and Manfred Thaler.

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  • Updated On Feb 28, 2023 at 02:51 PM IST
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  • Published On Feb 28, 2023 at 02:51 PM IST
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  • 2 min read
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