History
2024: Başak Traktör buys Buhler Industries from Rostselmash
The Turkish company Başak Traktör (part of the Asko Holding group) bought a Canadian factory for the production of agricultural machinery from Rostselmash. The press service of the Russian company announced this on January 9, 2024.
Under the terms of the agreement, the Turkish manufacturer of tractors and other equipment acquired 96.7% of Buhler Industries. The financial parameters of the transaction were not disclosed in the press release. It took place "on market conditions," Rostselmash said. Asko Holding previously noted that the transaction amount will be 60.5 million Canadian dollars (about $45 million).
All funds received from the transaction will go to the further development of production and technological independence of the company, as well as the development and release of new products, the press service of Rostselmash clarified.
Başak Traktör is registered in Sakarya in Turkey. Under the brand name Başak Traktör, it produces tractors with a capacity of up to 120 hp, garden and cleaning equipment. It is a subsidiary of Asko Holding, a multidisciplinary holding company that includes assets in the production of agricultural machinery, construction equipment and power. Buhler Industries manufactures and sells agricultural machinery under the brand names Versatile and Farm King.[1]
2007-2021
In 2007, Rostselmash acquired 80% of Buhler Industries. Then the purchase of shares cost the Don manufacturer $143.3 million.
In 2015, against the background of the expansion of Western sanctions against the Russian Federation, Rostselmash moved to Rostov-on-Don part of the capacity of the Canadian plant. Then this state of affairs was explained not so much by political considerations as by the fact that Versatile tractors are not popular abroad. In addition, the transfer of capacities to the Don provided an opportunity to receive state support. In 2021, the Don manufacturer of agricultural machinery began construction of a plant for the production of tractors worth. It is assumed that the new enterprise will be able to produce up to 5 thousand units of self-propelled equipment per year (10-15 vehicles per shift on different conveyors).
Notes
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