Millat Tractors Limited (PSX: MTL) has been assigned the African territory for tractor exports under a new agreement with Massey Ferguson Corp. (MFC) and AGCO Limited, the owner of the Massey Ferguson brand, according to a stock filing submitted to the Pakistan Stock Exchange on Monday.
In its notice issued, the company disclosed that the agreement allows Millat Tractors to export its tractors to African markets directly under its own trademark. The move marks an expansion of MTL’s international footprint and is expected to contribute to Pakistan’s export growth.
The company clarified that the arrangement is in addition to Massey Ferguson–branded tractors already being exported to Africa and other global markets through AGCO Corporation, United States.
Millat Tractors said the collaboration is expected to significantly strengthen its presence in the African region and enhance its long-term global business prospects. The company has requested the PSX to inform TRE certificate holders accordingly.
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