FORMA is open for Africa: Exclusive Interview with Mr. Vijay Agarwal, Chairperson

2 months ago 3138

Q. Please share your vision for African market with FORMA.

A. When we were selling ace tractors we realized that people in Africa prefer European brands. They have more confidence for that. So we had this company FORMA in Europe So we said why not get that technology introduce in the tractor and then give it to the African people So that is why we brought the tractor and we hope to be number one very soon because of the Reliability, Quality, Pricing as you have seen in all the electronics because a farmer you know just have to press the button and the service will be done to him. He doesn’t have to call, he doesn’t have to wait. There is not going to be any breakdown time. So considering that we introduced this forma brand there. 

Q. ACE has exclusive dealers in many countries of Africa, please let us know how FORMA is going to maintain its product life cycle and expand operation ?

A. A tractor is a machine that requires regular maintenance, periodic service like filter change, oil change and it is a machine so it requires repairs. So we are not just selling and going away. Wherever we take the tractor we first ensure we have a very reliable dealer and FORMA is capable of sending people to training, how to maintain the machine. FORMA has to stock parts so that tomorrow if a tractor breaks down they don’t have to come all the way to India. So that we ensure that the parts are there, the service training is there, so that the tractors are well maintained and with that we are already successful and the forma brand will be going further. So like I told you we may in future seeing that that the volumes we may even help some country in setting up the assembly plant because exporting from anywhere containers and also we can assemble a plant there so that then in case it is very simple for the people because when they assemble they know the product servicing, maintenance and everything will be available with them. 

Q. Considering all competitions how are Forma tractors going to be stand-alone products especially in Africa?

A. Competition is something that is very good because that helps in increasing the quality. As soon as one company becomes a monopoly they stop looking at the customers and they think that we will be the only one to sell so we don’t do that. We want the competition to be there so that we can present a product which we can compare and show that it is a good product that is a value for money comparatively that  is the whole idea. So we are sure, we are not worried about competition, even the parent company is not worried about competition. Today, also ACE is only competing against multinationals.  We compete and we win. We got 60% market in India. And Africa is a developing country. I am sure they want this type of product. They don’t want products which are very expensive and are not viable. And an Indian product developed with European GUTS is definitely going to be a success. 

Q. Technologies used for the newly launched product please share how this new technology can be an aid to african market? 

A. If a farmer finds that he can easily get the service with just one press of a button and all the things provided, so automatically it will be a success. Then one finds that if let’s say I buy another brand of tractor it’s costing me so many dollars and here I am getting a product at a reasonable price. That is the idea we like in India. We want to give people Indian products at a reasonable price, value for money product and that is the whole aim of this company.

Exclusive Interview with Mr Vijay Agarwal, Chairperson, #FORMA

Forma is open for Africa, the newly launched product’s UPS is the pulling power which is higher. Considering all the factors of geographical differences, Forma commits to offer excellent performance with less power loss.

SC FORMA SA is a 75-year-old company in the Agricultural and Automotive Domain with a traditional European legacy. It is based in the Romanian township of Botosani and is registered on the Romanian stock exchange. SC FORMA SA lately, known as the Botosani Mechanical Center, has a rich Romanian Heritage and has been a Major Centre for the development of agricultural equipment and components. The former Technology and Mechanical Center later called MAIA (Mechanical companies for agricultural machinery) became a joint-stock company and the ownership rights were changed in the late 1990s.

In 2000 FORMA became a private equity company and AVAS sold all its stocks to a Romanian investor. In 2009 it was acquired by Action Construction Equipment Ltd. SC FORMA has a share capital of 1,075,511 40 lei, with the current trade symbol as FORMA The current majority shareholder, Action Construction Equipment (ACE) holds 89.5183% of the shares of SC FORMA SA.

SC FORMA SA is located in the northeastern part of Romania UKRAINE is only 75 km away from the factory. The plant is located in the picturesque industrial area of Botosani facing the hills and is less than a kilometer from the train station. It has a vast area of over 32500 sq m.

Photo Credit: Mrs. Mona Director and Mr. Vijay Agarwal, Chairperson

REASONS FOR ACQUISITION

Mr. Vijay Agarwal, Chairman & Managing Director acquired the FORMA Plant in Romania because he was impressed by their manufacturing facilities, versatility of machines installed and technology they had. Their products were always known for their Ruggedness, Robustness. Dependability, Reliability and Efficiency. He also felt that this strategic acquisition would facilitate entry into European and CIiS regions. Mr Vijay Agarwal respects their skilled work force and also salutes their enthusiasm and ability to work. He was also impressed by the fact that the plant produced lots of assemblies and aggregates for the Russian armoured Vehicle. 

The vision was to create a presence in Europe with a large product portfolio of ACE and to update the current product range to the quality and efficiency of present competitors in the market. This could have been only possible through technical knowhow of FORMA.

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