Joint venture to produce ag machines in India
15 September 2022
Keestrack Belgium, through its holding company PFH, has entered into a joint venture agreement with India’s Gujarat Apollo Industries Limited that will result in the production of agricultural equipment for India and certain export markets.
The joint venture, Goldoni Apollo Private Limited, will use the Goldoni technology that was acquired by the Keestrack Group in 2021. Headquartered in Ponzano Veneto, Goldoni is an Italian manufacturer of small to medium agricultural equipment that was founded in 1927.
Keestrack, headquartered in Bilzen, Belgium, is a family-owned global manufacturer of mining, recycling and construction equipment. Keestrack produces machines in Italy, the Czech Republic, China and India with its parts, logistics and administrative headquarters in Belgium.
Keestrack began manufacturing in India in 2019 under the name eTrack Crushers, headquartered in New Delhi.
Gujarat Apollo Industries Group, founded in the 1970s, manufactures mining and construction equipment. The company recently entered into the farm machinery segment.
“We see a great opportunity in the Indian market for high-quality localized agricultural equipment and believe that we can not only bring new technology to the Indian agricultural equipment market but also add value to the entire value chain together with the expertise of our well known and reputable Indian partner Group Gujarat Apollo Industries Limited “ said Peter Hoogendoorn, CEO of PFH Holdings and president of Goldoni Italy.