News

Here's the news from the LS tractor.

News

(CLOB) LS Mtron (CEO & President J.S. Shim), an industrial machinery and high-tech parts specialist of LS Group, held a completion ceremony of a tractor plant in Qingdao, China on the 28th with 300 attendants including LS Group insiders, such as Chairman Christopher Koo of LS Mtron and Chairman Ja-Myung Koo of LS-Nikko Copper, as well as Vice Mayor of Qingdao and Consul General Jae-Hyeon Yu. 
Built over the 90,000㎡ site inside Industrial Complex in Qingdao, the tractor plant with facilities to produce 20,000 tractors a year is a state-of-the-art plant equipped with the Tech Center functioning as an agricultural machinery training center and showroom. This plant, which focuses on manufacturing medium to large-scale products of 50 ~ 100 horsepower, will serve as a global advance base for production and sale of tractors.

At the completion ceremony, Chairman Christopher Koo of LS Mtron said, “Qingdao is a city that has close ties with LS Mtron. Starting from the air conditioning plant, we have installed four companies including Daeseong. Therefore, Qingdao is the Mecca of LS Mtron’s business in China. The tractor plant completed today will play pivotal roles as LS Mtron grows into the No. 1 company in China, the world’s largest tractor market.”

LS Mtron plans to localize the engine, a core part, and to launch new models, such as a two-wheel drive tractor and a tractor of less than 50 horsepower. The tractors produced at the Qingdao Plant will be applied with technologies differentiated from those of the competing products in China, such as low-noise, low-vibration, maximum driving speed and hydraulic power steering, and therefore is forecasted to lead the tractor market in China.

Having promoted distribution network implementation since 2009, LS Mtron has already secured the major stronghold regions. LS Mtron plans to advance into one of the top 5 tractor manufacturers in China by securing approx. 400 distribution centers nationwide at an earlier phase and providing differentiated premium service with the 24-hour customer service and distributor ranking system.

President J.S. Shim of LS Mtron explained, “In the Chinese market with the annual demand of 230,000 units, LS Mtron will achieve tractor sales of KRW 300 billion by 2015 by implementing full line-up production system and releasing high-quality and high-function medium to large-scale models.” He added, “We plan to achieve KRW 1 trillion in tractor sales by 2015 in the global market.”


List