Shriram Automall India Limited (SAMIL), a wholly owned subsidiary of Shriram Transport Finance Company (STFC), has entered into a tie up with John Deere India Private Limited (John Deere).
March 14, 2014 (Newswire.com) - Shriram Automall India Limited (SAMIL), a wholly owned subsidiary of Shriram Transport Finance Company (STFC), has entered into a tie up with John Deere India Private Limited (John Deere), a leading manufacturer of agricultural tractors and farm equipment, by signing an agreement wherein SAMIL will provide specialized services to John Deere's authorized dealerships for disposal of pre-owned tractors and farm equipment.
The event saw the presence of Mr. Ravi Menon, Director - Sales and Marketing from John Deere and Mr. Sameer Malhotra, Chief Executive Officer from SAMIL.
SAMIL would provide the services of disposal of pre-owned tractors and farm equipment to John Deere's authorized dealer(s) in various states of India including Andhra Pradesh, Tamil Nadu, Karnataka, Kerala, Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Punjab and Haryana.
"Through this alliance we would be reaching the unaddressed segment using farm equipment in India. Many challenges faced by India farmers in possessing a tractor for their agricultural activities can be simplified by providing easy and absolute transparent platform for trading pre-owned tractors", commented Mr. Malhotra.
The two companies have joined hands to work together for understanding the dynamics of used tractor market and refine the methods for quick and efficient disposal of used tractors and farm equipment.
About John Deere India Private Limited
Deere & Company, founded in 1837, is a Fortune500 Company and is the world's leading manufacturer of agricultural and forestry equipment, a major manufacturer of construction equipment, and a leading supplier of equipment used in lawn, grounds and turf care. For the fiscal year 2013, Deere & Company reported total revenue of US$ 37.8 billion, with a net income of US$ 3.5 billion. John Deere has been a leader in the modernization of agricultural practices in several regions of the world.
John Deere India has made significant progress in India, as a modern and complete farm solution company, over the past 15 years.
Shriram Transport Finance Company Limited is the largest asset financing NBFC with Assets under management of over 52,000 crores. The company is a leader in organized financing of pre-owned trucks with strategic presence in 5-12 year old trucks and a market share of around 25%. It has a pan India presence with a network of 630 branches, and employs 18,078 employees including 11,243 field officers. The company has built a strong customer base of approx. 1.10 mn. Over the past 34 years, it has developed strong competencies in the areas of loan origination, valuation of pre-owned trucks and collection. It has a vertically integrated business model and offers a number of products which include: Pre-owned CV financing, New CV financing and other loans like accidental repair loans, tyre loans and working capital finance, etc. For more information please visit www.stfc.in
Established in 2011, SAMIL acknowledges the market needs of automobile industry with an extensive range of used vehicles and equipment. While constructing a well-organised arena for trade, SAMIL has conceptualised a perfect blend of physical bidding, online bidding, one stop classified and private treaty to give a transparent and organised shape to its every transaction. On these trading platforms, every esteemed brand finds an indelible space amongst a plethora of options in pre-owned commercial vehicles, construction equipment, tractors, cars & SUVs, 3 wheelers and 2 wheelers. While coating every deal with sheer excellence, the company craves for consistent evolution by regularly updating its allied services, namely parking, valuation, new look refurbishment and easy finance (through STFC).
The company has already launched its well-structured Automalls in 30 key locations across India. In addition, there are more than 100 bidding locations available for customers along with 67 strategic parking locations pan India.
For more information, please contact:
SHRIRAM AUTOMALL INDIA LIMITED
709, Best Sky Tower,
F-5, Netaji Subhash Place,