Hansavivek ESCORTS will float a new company in partnership with Ford Motor of the US for undertaking manufacture of 6,000 tractors of 46/50 hp per annum. Of the paid-up capital of Rs 2 crores of the new company, which will be a subsidiary of Escorts, 60 per cent will be subscribed by Escorts and the balance by Ford. Escorts' investment will be spread over three years commencing from mid-1969, and the first tractor is expected to be produced by the middle of 1970. Distribution, servicing and spare parts sales will be handled by Escorts.