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ISTANBUL (Turkey), January 13 (SeeNews) – Turkish tractors and diesel motors maker Tumosan Motor ve Traktor Sanayi [BIST:TMSN] said on Tuesday it has agreed to sign a memorandum of understanding (MoU) with Spanish trains and railway equipment producer Patentes Talgo SLU for joint projects, ventures or technology transfer.
The agreement is in line with Tumosan’s strategy to branch out into the train, high-speed train and railroad materials and the equipment production, maintenance and repair sectors, the company said in a filing with Borsa Istanbul.
On Monday, Tumosan said it would conduct negotiations regarding joint projects, joint ventures or technology transfer with local and foreign entities that are active in trains and railway equipment production, maintenance and repair.
At its factory, located in the southern Turkish province of Konya, Tumosan manufactures tractors with an annual output capacity of 45,000 units and diesel motors with annual capacity of 75,000 units, working in three shifts.