With the acquisition of Erkunt Traktor Sanayii A.S. (Erkunt) and its foundry, Mahindra & Mahindra Ltd.(M&M) has increased its reach into the Turkish market. M&M’s association with Erkunt follows the Hisarlar acquisition in early 2017. Erkunt is the fourth largest tractor brand in Turkey, which is estimated to amount to 60,000 tractors per year. Claimed to be USD 1.7 billion worth, the tractor market in Turkey is considered to be the biggest in Europe. With most tractors sold bigger than 50 hp, the Erkunt acquisition by M&M is expected to close by the last quarter of the current year. Said to be worth Rs.800 crore, the deal is expected to present M&M an opportunity to export tractors to the neighbouring markets of the Middle East, CIS and Europe. The Erkunt foundry unit, with a revenue of USD 47 million during 2016, focuses on engine blocks, cylinder heads and transmission cases for clients like JCB, MAN, Ford and Deutz.

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