TAFE - Tractors and Farm Equipment Limited
|Type||Privately held company|
|Headquarters||Chennai, Tamil Nadu, India|
|Products||Tractors, farm machinery, diesel engines, batteries, gears and transmission components, engineering plastics, hydraulic pumps and cylinders, vehicle franchises and plantations.|
|Revenue||US $1.6 Billion (2011-12)|
Tractors and Farm Equipment Limited (TAFE), a US $1.6 billion tractor major incorporated in 1960 at Chennai, India, is the third largest tractor manufacturer in the world and the second largest in India by volumes, with a 25% market share of the Indian tractor industry and a sale of approximately 150,000 tractors (domestic and international) annually.
TAFE's partnership with AGCO Corporation and the Massey Ferguson brand for 52 years is an outstanding example of TAFE's commitment to its values of building long-term relationships with its stakeholders, through fair and ethical business practices.In the Indian market, TAFE has earned the trust of its customers through its wide range of products that are known for high quality and low cost of operation, backed by over 1000 strong distribution network that effectively supports its three tractor brands of Massey Ferguson, TAFE and Eicher. TAFE exports tractors in partnership with AGCO and independently, powering farms in over 80 countries including developed countries in Europe and the Americas.
Besides tractors, TAFE and its subsidiaries have diverse business interests in areas such as farm machinery, diesel engines, batteries, transmission components, panel instruments, engineering plastics and hydraulic pumps and cylinders.
From a small beginning with just one tractor model in 1961, TAFE today is recognized as a high quality mass manufacturer with an extensive product range to meet every farming need, innate engineering strengths, uncompromising focus on quality and an immense reserve of experiential knowledge gained through designing, developing, manufacturing and supporting tractors that are synonymous to reliability and ruggedness.
TAFE's R&D facilities are centers of excellence, renowned for their innovative design and engineering expertise, and have been recognized by the Department of Scientific & Industrial Research, Ministry of Science and Technology, Government of India. Extensive research and testing ensures that TAFE's products and aggregates meet its exacting performance standards.TAFE's first overseas plant in Turkey went on stream in 2010 and manufactures a range of tractors for distribution in Turkey through AGCO's dealer network. With its acquisition of Eicher's tractor business and engines plant in 2005 through a wholly owned subsidiary, TAFE presently has four tractor plants in India, an engines plant and two engineering plastics units besides other facilities, employing over 2500 engineers apart from a number of specialists in other disciplines.
TAFE believes in sound corporate governance and has illustrated the same through the years by establishing a solid balance between being a consistently profit-making company while keeping ethical business practices and values intact. In 2008, TAFE won the Star Award for Unlisted Companies from Business Standard newspaper and has been awarded the Samman-Patra for over a decade since 1998 for prompt payment of statutory levies such as the Central Excise.
TAFE's direction is deep- rooted in corporate social responsibility, contributing to the environment and to society while facilitating business growth, thereby establishing the role of a responsible corporate citizen. TAFE's social focus has been significant since inception and it contributes in the areas of education, healthcare, agriculture and community development and in supporting traditional art forms.TAFE is committed to the Total Quality Movement (TQM) and three of its tractor plants are certified under ISO 9001 and also under ISO 14001 for their environment friendly operations. TAFE was recently conferred the Corporate Citizen of the Year award by the Public Relations Council of India in March 2013. In the recent past, TAFE has garnered three TPM Excellence Awards for various plants from the Japan Institute of Plant Management, the Frost & Sullivan - IMEA Award for significant progress towards reliable processes, the Regional Contributor Award for quality supplies from Toyota Motor Company, Japan, and the Manufacturing Supply Chain Operational Excellence - Automobiles Award at the second Asia Manufacturing Supply Chain Summit for its supply chain transformation, as well as a number of other regional awards for TPM excellence.
TAFE has the distinction of having received the commendation for "Significant Achievement on the journey towards Business Excellence" by the CII-EXIM Bank Business Excellence Award jury in 2012.
TAFE is a part of the Amalgamations Group based at Chennai, one of India's largest light engineering groups, comprising 41 companies, involved in the design, development and manufacture of diesel engines, automobile components, light engineering goods, plantations and services.