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Living every cricket lover’s dream

March 27, 2020/in Industry News, News, Press Release/by External Source

Living every cricket lover’s dream: Just like the players, Karl McDermott would now be entering the final stage of his preparations for the English cricket season. As head groundsman at Lord’s, he would have an eye on April 12, when Middlesex were due to open their campaign against Worcestershire. Instead, he is “living every cricket lover’s dream” — […]

Kubota Invests in Escorts Limited

March 26, 2020/in News, Press Release/by Ellie Stansfield

Kubota Invests in Escorts Limited: Kubota Corporation (Headquarters: Naniwa-ku, Osaka, Japan; President and Representative Director: Yuichi Kitao; hereinafter, “Kubota”) announced today that it will invest in an Indian leading tractor manufacturer, Escorts Limited (Headquarters: India, Chairman and Managing Director: Nikhil Nanda; hereinafter, “EL”). Through this investment, Kubota intends to increase its presence in India – […]

Living every cricket lover’s dream

March 27, 2020/in Industry News, News, Press Release/by External Source

Kubota Invests in Escorts Limited

March 26, 2020/in News, Press Release/by Ellie Stansfield

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Living every cricket lover’s dream

March 27, 2020/in Industry News, News, Press Release/by External Source

Living every cricket lover’s dream: Just like the players, Karl McDermott would now be entering the final stage of his preparations for the English cricket season.

As head groundsman at Lord’s, he would have an eye on April 12, when Middlesex were due to open their campaign against Worcestershire.

Instead, he is “living every cricket lover’s dream” — he is in the middle of a Lord’s lockdown.

But for a few security guards and construction workers rebuilding the Compton and Edrich Stands, and the couple of other on-site residents, including his five-month-old daughter, he has the run of the Home of Cricket.

Not that it makes his working life easier. Normally, he would head up a team of eight groundstaff. As they all take public transport to work, they have been told to stay away for the time being.

Between them, they would take two hours to mow the pristine outfield. On his own, it takes McDermott two days.

“It’s like the good old days of club groundsmanship, trying to survive on your own,” he said. “It’s working out what you can do.

“Generally, I get up and give the square a roll early, about 7.30am, which takes two-and-a-half hours, then I tick off the longer jobs during the day.

“In one sense it’s nice not having cricket, you don’t have to put the covers on and things like that.”

That is not the only positive, of course.

“It is quite liberating,” he said. “I’m not getting many phone calls or emails, I don’t have to go to any meetings. It’s me managing my day and watching the world go by.

“The nice weather is making my days go a lot quicker and is enjoyable. It’s not your typical wet and windy pre-season — that would be miserable on my own.

“The fact I have somewhere to walk around is great. We have just had a baby, so we don’t have to go out to take her for a little stroll, so that’s quite nice as well. It’s probably every cricket lover’s dream to be locked inside Lord’s!”

McDermott has spoken to groundsmen across the grassroots game worried about the impact the current situation will have on both their pitches and their clubs, with uncertainty over when the game will return at any level.

Professional cricket is currently not scheduled to be played until June at the earliest. McDermott is still preparing as if England’s Test match against the West Indies on June 25 will go ahead.

“It’s the same uncertainty that everyone feels right now, we are in limbo, when we can get the guys back in safely, or how much notice we will get that cricket is back.

“It’s a case of trying to stay ahead, so there’s as little catch-up as possible when we are all guns blazing. No matter when, we will be ready.”

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Kubota Invests in Escorts Limited

March 26, 2020/in News, Press Release/by Ellie Stansfield

Kubota Invests in Escorts Limited: Kubota Corporation (Headquarters: Naniwa-ku, Osaka, Japan; President and Representative Director: Yuichi Kitao; hereinafter, “Kubota”) announced today that it will invest in an Indian leading tractor manufacturer, Escorts Limited (Headquarters: India, Chairman and Managing Director: Nikhil Nanda; hereinafter, “EL”).

Through this investment, Kubota intends to increase its presence in India – the world’s largest tractor market – as well as its commitment to the competitive tractor market, which has massive growth potential, thus further expanding its business.

Kubota Invests in Escorts Limited

Tractor produced by EL started distributing through Kubota’s sales network in worldwide.

Background and aims

The tractor market in India is one of the world’s largest in terms of unit sales and expects to expand further. In 2008, Kubota established Kubota Agricultural Machinery India Pvt. Ltd. (hereinafter, “KAI”) as a foothold in the Indian market.
At present, local manufacturers are playing key roles there, and they are all enhancing partnerships with foreign-affiliated manufacturers. In February 2019, Kubota established a joint-venture tractor manufacturing company with EL and mass production is due to start this July.
Through this capital tie, the two companies intend to deepen their cooperative relationship further and, by leveraging each other’s strengths, create synergy across a broad range of their business, including development, production, sales, distribution, and parts procurement, in a bid to extend their reach in the Indian market.
Meanwhile, the competitive tractors which currently form the core of the Indian tractor market, are gaining popularity in other markets around the world. Kubota hopes to expand its global reach in those model market by tapping into EL’s parts procurement networks and capability to reduce cost.

Investment scheme

EL will issue new equity shares to Kubota on a preferential allotment basis (subject to shareholders’ and necessary regulatory approvals) pursuant to which Kubota will hold 9.1% of EL’s paid up share capital.
The total amount of investment will be approximately 16 billion yen.
Subsequent to the preferential allotment to Kubota, EL will undertake a reduction of its share capital from the shares held by the Escorts Benefit and Welfare Trust (subject to receipt of necessary approvals) of such number of equity shares as are being issued to Kubota under the preferential allotment. Post the capital reduction, Kubota’s stake in EL will increase to 10%.
About the investee

Company name	Escorts Limited
Representative	Nikhil Nanda, Chairman and Managing Director
Location	Faridabad City, Haryana State, India
Year of establishment	1944
Business	Manufacture and sales of agricultural equipment, construction equipment, and railways-related equipment
Sales	Approx. 100.0 billion yen (approx. 62.0 billion rupee; for the year ended March 2019)
Number of employees	11,000 (including non-regular employees, current as of December 2019)

Future developments

After going through the necessary procedures and subject to receipt of requisite approvals, the investment is likely to be completed by June 2020.
To further facilitate and strengthen the collaboration with EL, Kubota will sell 40% of stake in KAI to EL, in addition to this investment.
Going forward, Kubota aims to establish a joint research and development center with EL to develop products that are optimized for the local market and shorten the development period.

For the latest industry news visit turfmatters.co.uk/news

Get all of the big headlines, pictures, opinions and videos on stories that matter to you.

Follow us on Twitter and Instagram for fun, fresh and engaging content.

You can also find us on Facebook for more of your must-see news, features, videos and pictures from Turf Matters.

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Living every cricket lover’s dream

Kubota Invests in Escorts Limited

Living every cricket lover’s dream

Kubota Invests in Escorts Limited

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Living every cricket lover’s dream

Living every cricket lover’s dream: Just like the players, Karl McDermott would now be entering the final stage of his preparations for the English cricket season.

Kubota Invests in Escorts Limited

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