International Tractors

International Tractors Ltd. entered a joint venture with Shandong Luyu Heavy Industry to set up a tractor and engine assembly plant in China. The JV, named Luyulika (Laizhou) Agri Machinery Co. Ltd., will invest $10 million in phase 1 and have a capacity of 50,000 units.

International Tractors (ITL), part of Sonalika Group, announced a joint venture with Shandong Luyu Heavy Industry Co. to produce tractors and engines in China, with a $10 million investment for a 50,000-unit capacity facility in phase 1.