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Home/News/Indian company buys Serbian tractor maker IMT

Indian company buys Serbian tractor maker IMT

Serbia’s IMT has been sold to Indian tractor manufacture TAFE for the starting price of RSD 66 million in an auction on April 2.

TAFE, a long-time partner of IMT, was the sole bidder in the auction, Beta reported.

The assets on sale included infrastructure facilities, the right to use the trademark and the equipment, while the land remains under state ownership.

IMT was declared bankrupt in 2015, when its debt totaled EUR 186 million.

Source; B92