In 1962, the first Fiat tractors were assembled, with licensing to manufacture Fiat's signed in 1963. Production of the MMTT tractors ended in 1965 with a total of 4,879 MMTT tractors having been assembled since the beginning of the joint venture. MM's shares were transferred to a holding company, Motec Industries, in 1961, then in 1967 to the White Motor Company, parent of White Farm Equipment. Also in 1967, Fiat took over half of the MM shares. Engine assembly, and later production, began in 1968, and the company's name was changed to Türk Traktör ve Ziraat Makineleri, or Turk Tractor and Agricultural Machinery Corporation.