Millat Tractors Limited Overview
Pro stress-test →Millat Tractors Limited is a Pakistani agricultural machinery manufacturer based in Lahore, founded in 1964, and is the manufacturer of Massey Ferguson tractors in Pakistan with a production capacity of 40,000. The company maintains a market share of more than 50% with approximately 259,000 Millat tractors in use across Pakistan.
Strategic Profile
Pro stress-test →The company manufactures and markets Massey Ferguson tractors under a licensing agreement with AGCO Ltd., United Kingdom; forklift trucks under license from Anhui Forlift Trucks, China; diesel engines; diesel generating sets, and a range of allied agricultural and industrial implements. However, in January 2023, due to continuous drop in demand for tractors and cashflow constraints, Millat Tractors suspended its plant operations till further notice.
Competitive Landscape
Pro stress-test →Millat Tractors dominates Pakistan's tractor market with a market share exceeding 50%, significantly ahead of competitors. The company competes primarily against smaller domestic tractor manufacturers and imported brands. Despite market leadership, the sector faces structural demand challenges that have affected the entire industry.
Industry Context
Millat Tractors Limited operates in Agricultural Machinery & Tractor Manufacturing.
Key facts
Founded: 1964 · Headquarters: Lahore, Pakistan · Employees: 537 · Market cap: 106.64B PKR