TAFE..

 TAFE asserts rightful ownership of Massey Ferguson brand in India, Files contempt of court petition against AGCO 

·       Rejects AGCO’s claim

·       TAFE 65 years – steadfast in the service of its Massey Ferguson customers

 

·       Over 2 million TAFE designed MF tractors

Mumbai: Since its inception in 1960, TAFE has produced, built and nurtured the Massey Ferguson brand offering a wide product portfolio of over 500 models in India on the back of strong indigenous R&D and quality control. With a total annual production of over 180,000 tractors, over 100,000 Massey Ferguson are produced by TAFE in India with over 3 Million satisfied customers in its fold. TAFE and Massey Ferguson are synonymous in India.

TAFE is the second largest producer of tractors in India and the third largest in the world, having established a reputation for itself for its reliability in quality winning the trust of farmers both in India and over 80 international markets. A strong distribution network of over 2,000 dealers effectively supports TAFE’s four iconic tractor brands - Massey Ferguson, TAFE, Eicher Tractors, and IMT. TAFE exports tractors to more than 80 countries. TAFE has won innumerable accolades for performance and parts supply from its customers, industry bodies, media, and governments winning international recognition for quality and customer satisfaction.

TAFE’s products are India-centric in design, distinctly different from AGCO’s products and ideally suited for small and medium farmers of India and across the world. AGCO’s global brand website has historically for six decades has made no mention of the Massey Ferguson in the context of India, Nepal and Bhutan having ceded the entire territory to TAFE since the take-over of Massey Ferguson India in 1960.

TAFE acquired shareholding in AGCO corporation commencing in 2012 to become its single largest shareholder and strategic long-term investor. This strengthened the collaborative relationship between the companies, and TAFE and AGCO signed ‘Letter Agreements’ that have for over a decade assured AGCO of steady support.

As TAFE’s strategic influence increased, rather than address issues plaguing AGCO that have repeatedly called attention to, including flaws with AGCO’s corporate governance, wholly inadequate engagement with shareholder and financial and operational performance in key areas, AGCO has sought to stifle TAFE’s ability to seek changes through contentious and ill-advised moves with respect to brand usage that has for over six decades been an uncontested area.

TAFE has asserted its claims over the ownership of the Massey Ferguson brand in a case filed before the Madras High Court. The Commercial Court in Chennai has ruled in favour of TAFE with an interim status quo order with respect to the Massey
Ferguson brand as hitherto, it is therefore impermissible for either party to disturb the position as on 29^th April 2024, and any attempt to do so will be violation of the court orders. TAFE has filed a petition against AGCO for disobedience of the orders of the court in a contempt petition in Chennai.