Millat Tractors Limited has announced a major step toward expanding its global reach after signing a new agreement with Massey Ferguson Corp. and AGCO Limited.
The deal gives Millat Tractors official rights to export tractors to African markets directly under its own trademark, marking an important milestone for the company and the country’s industrial sector.
According to the information shared with the Pakistan Stock Exchange, Millat Tractors will now enter African countries not just as a manufacturer, but as an independent global brand.
This decision is expected to boost Pakistan’s export volume, improve foreign exchange earnings, and highlight Pakistan’s growing capability in agricultural machinery production.
The agreement does not replace the company’s ongoing presence in Africa. Millat Tractors already exports Massey Ferguson (MF) branded tractors to African and other international markets through AGCO Corporation.
Instead, this new arrangement will work alongside existing exports, allowing Millat to strengthen its identity and visibility in the global market.
The company believes that this development will help build a stronger footprint across African regions where agricultural mechanisation is rising.
The new opportunity supports Millat’s long-term business strategy to grow internationally, diversify its portfolio, and enhance its global competitiveness.
The announcement was made as part of a material disclosure under Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Rule Book.
The company also requested that the stock exchange inform TRE certificate holders about the update.
Industry analysts say the agreement could open doors for Pakistan’s farm equipment sector, offering a new path for industrial growth, export expansion and stronger trade ties with African nations.