Escorts announced that ICRA has reaffirmed and assigned the Long-term rating to AA- and Short-term rating to A1+ in respect of Bank facilities for Rs.866 crore & Rs.150 crore for Commercial Papers of the Company.

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Escorts Agri Machinery Segment in August 2018 sold 4674 tractors in domestic market registering a growth of 6.3% against 4398 tractors sold in August 2017.

Export for the month of August 2018 at 138 tractors against 189 tractors sold in August 2017. Total (Domestic +Exports) tractors sales in August 2018 stood at 4812 tractors registering a growth of 19% against 4587 tractors in August 2017.

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Escorts and Tadano Group, Japan's biggest and world's leading mobile crane manufacturer, announced their joint venture to manufacture rough terrain cranes and truck mounted cranes. The joint venturewill strengthen Escorts technology leadership and market presence in the material handling equipment space.

The JV will leverage the cost effective frugal Indian engineering excellence of Escorts and world leading Japanese technology from Tadano to cater to an expanding market for heavier capacity and efficient Truck & RT Cranes and sophisticated truck mounted and rough terrain cranes in the 20 to 80 tonnage category. The 51:49 joint venture between Tadano and Escorts respectively will enable both partners to optimize their current and future capabilities in the segment globally. The JV will aim to take leading position in the high tonnage crane segment in medium to long term.

Production by the joint venture is expected to commence at Faridabad in the third quarter of this financial year itself.

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Escorts announced that the Annual General Meeting (AGM) of the company will be held on 12 September 2018.

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