The present firm came into being through the merger in 1911 of two Austro-Hungarian agricultural engineering businesses; Clayton and Shuttleworth, which had originally been founded in 1842 in the English city of Lincoln, but which had established themselves in Wien by 1857; and Hofherr-Schrantz, a venture begun by Mathias Hofherr of Wien in 1869 and joined in 1881 by Hungarian-born János Schrantz. By the late 19th Century both firms had expanded substantially, with Clayton and Shuttleworth having established no less than five assembly plants and factories throughout the Austro-Hungarian Empire and in the newly established kingdom of Romania.
In the aftermath of the Great War the concern underwent a period of contraction and reorganisation. Production was concentrated at the Wien-Floridsdorf factory, while the factory in Budapest was closed for several years, though it would reopen in 1928. The former assembly plants in Lemberg (Lvov), Prague, and Krakow were nationalised or lost through nostrification. By the latter part of the 1920s these difficulties had been substantially overcome and during the following decade the firm would see considerable expansion; indeed, by the 1930s it was exporting tractors to more than twenty-seven countries throughout south-eastern Europe and South America.
In addition to tractors, the concern’s present product line includes mowing machines, combine harvesters, threshing machines, and potato harvesters.