India is the largest tractor market in the world and hence one of the most important markets for all the leading Indian and global companies having Tractor in its farm equipment portfolio. Through tractors, India is now emerging as one of the huge markets in the world.
FORMA – a 75-year-old company in the agricultural and automotive domain with a traditional European legacy was acquired by Action Construction Equipment (ACE) in 2009.
Speaking at the official launch function held on 18th March 2021, Mr Vijay Agarwal, CMD said, “We acquired the FORMA plant in Romania because I was particularly impressed by their manufacturing facilities, versatility of machines installed, and technology they had. I was happy to note that the plant produced lots of assemblies and aggregates for the Russian Armoured Vehicle. Their products were always known for their ruggedness, robustness, dependability, reliability and efficiency.”
According to him, this strategic acquisition would facilitate entry into European and CIS region.
The vision was to create presence in Europe with a large product portfolio of ACE and to upgrade current product range to the quality and efficiency of present competitors in the market. This could have been only possible through technical know-how of FORMA, he added.
Speaking on the occasion, Mr. Ashok Anantharaman, Chief Operating Officer, FORMA said “We are happy to recreate the FORMA brand for the world by India because we have tremendous confidence in the DNA of the brand.”
In line with Indian Prime Minister Narendra Modi’s vision of “Make in India for the World”, the officials said FORMA will be built in India with European technology and exported to the world.
From 26 HP to 100 HP, these tractors are available in both 2 Wheel Drive and 4 Wheel Drive configurations.