Home / Knowledge / News / Textiles / South Korean firm to mechanize Uzbek cotton production
South Korean firm to mechanize Uzbek cotton production
24
Dec '13
LS Mtron Ltd., a South Korean company supplying tractors in over 40 countries, has signed an agreement with the Government of Uzbekistan to supply 24,570 specialized mini tractors for harvesting cotton over the next five years.
 
According to the agreement signed by LS Mtron and the Uzbek national enterprise Agromash Sanoat Invest LLC, the Korean firm will provide tractors worth US$ 500 million during 2014-18.
 
In addition to supplying tractors of six different models, the Korean company will also share manufacturing technologies in order to allow the Uzbek state-run agricultural machinery company to localize parts production for the tractors, the company said.
 
The agreement is in accordance with the previously announced plan of the Uzbek Government to mechanize cotton harvesting in the country. Uzbek authorities plan to mechanically harvest around 80-90 percent of cotton by 2016.
 
Since it embarked on the tractor business in 1977, LS Mtron has grown continually to become No. 1 in Korea in terms of tractor sales by 2012. The company opened a factory in China as well as a major sales office in the US last year, and a factory in Brazil this year.
 
Over the last few years, the Uzbek Government has been constantly criticized by the international community and various human rights organizations for forcing millions of ordinary citizens to work in cotton fields, including school-age children and students of colleges and universities. As a result, several Western companies have boycotted using Uzbek cotton.
 
This year, Uzbekistan has produced over 3.35 million tons of raw cotton, and processed cotton production is expected to be around 1.1 million tons, nearly the same quantity it produced last year, according to the Uzbek Cotton Industry Association (Uzkhlopkoprom).
 

Fibre2fashion News Desk - India

Must ReadView All

Union MSME minister Kalraj Mishra

Textiles | On 1st Oct 2016

MSME policy announcement likely in October

The MSME policy is likely to be launched in October, according to...

Textiles | On 1st Oct 2016

GST Council approves rules on payments & returns

The second meeting of the GST Council, headed by Union finance...

Bangladesh’s WTO ambassador Shameem Ahsan (right) submitting his country’s TFA instrument of acceptance to WTO director-general Roberto Azevêdo. Courtesy: WTO

Textiles | On 1st Oct 2016

Bangladesh ratifies WTO’s Trade Facilitation Agreement

Bangladesh has ratified the Trade Facilitation Agreement (TFA),...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
September 2016

September 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search