Officials at Montana Tractors confirmed Monday that joint-venture discussions with the parent company of Branson Tractors have been discontinued.

“The joint venture has been put on the back burner due to economic conditions,” says Scott Finley, vice president of supply chain for Montana. “Each organization will continue moving forward individually. That is all I can say.”

Branson’s parent company, Kukje Machinery, told Farm Equipment on Friday that the talks had been discontinued, and that Branson was appointing a new management team.

Young Nam, the newly appointed president of Branson Machinery, said in a statement that the talks ended “because of lack of economic support under the current business environment in the U.S.”

Kukje confirmed it will keep Branson Tractor as a main sales force in the North American market and strengthen its customer service by appointing new managers

Nam named Glen Ezell as a vice president of sales and marketing. He stated that Mr. Ezell will lead “Team Branson” as Branson starts its “new beginning.”

Last October, Montana announced it had signed a supplier agreement with Kukje Machinery that would give Montana “immediate access” to the Kukje brand of tractors. Montana would not comment Monday on the status of its suppliers.