- They inked an MOU today
Thursday, August 18, 2022, Addis Ababa , Ethiopia : The Ethio-engineering Group (EEG) and YTO –CAMAC signed here today a Memorandum of Understanding( MOU) providing for strategic partnership in transferring technology and knowledge in production and localization of agricultural tractors , implements , combine harvesters , as well as in building Africa’s biggest tractor assembly plant in Ethiopia .
They inked the MOU, through their representatives at the headquarters of the former. When Ambassador Misganu Arga , EEG CEO put his signature on the document for and on behalf of EEG, Mr. Liu Huajin of YTO Africa Department Director reciprocated by following suits .
The overall purpose of the MOU is to harness the collective effort and resources of EEG and YTO-CAMACO to bring a reliable and long-term business partnership related to the supply, production, distribution and after-sales services of YTO-CAMACO’s different agriculture tractors, implements, attachments & combine harvesters.
Areas of cooperation, and collaborations between the two companies include, but not limited to supplying credit business partnership for agriculture tractors, implements, attachments & combine harvesters in the form of Semi Knocked Down (SKD) and Completely Knocked Down (CKD) parts, localization of parts as per the standard of YTO-CAMACO , exploring the possibility of designing the same, improving the existing production capacity of EEG ,supplying and installing assembly line technologies, cooperating on after sell services, exporting products , training , consolidating the existing market share, and expanding EEG’s products and services to neighboring countries. They will work jointly also in areas of Electric and solar tractors technologies, pilot less/self-drive tractors, other products, and equipment.
‘’ this is a historiacal juncture which transformed our existing relations ,’’ Ambassador Misganu said adding that they shall work hard to realize and materialize the project . according to him the cooperation and collaboration extends to the production of ‘ Made in Ethiopia tractors’.
Mr. Liu Huajin of YTO Africa Department director , on his part , appreciating EEG for seizing the opportunity , noted that his company shall strives to the success of the joint project too.
The factory, which has an assembling capacity of 10,000 tractors per year, is believed to make EEG profitable both locally and regionally .
YTO-CAMACO (CHINA-AFRICA MACHINERY CORP) is a leading Chinese company in the production of agriculture tractor worldwide, with production capacity of forgings, mechanical processing, assembly, and testing.