Yanmar acquires 6.26% of Manitou capital and voting rights

Yanmar has acquired 6.26% of the capital and voting rights of Manitou. The move, through shares acquired from the French bank Société Générale, comes as the two construction equipment manufacturing groups are enhancing their strategic alliance by expanding cross distribution into Mexico and Latin America. Takehito Yamaoka, president of Yanmar, said, “Manitou is well-respected as the market leader in telescopic handlers, so it is exciting for Yanmar to have a closer relationship with them through this capi
October 30, 2013 Read time: 2 mins
7139 Yanmar has acquired 6.26% of the capital and voting rights of 2106 Manitou. The move, through shares acquired from the French bank Société Générale, comes as the two construction equipment manufacturing groups are enhancing their strategic alliance by expanding Cross distribution into Mexico and Latin America.

Takehito Yamaoka, president of Yanmar, said, “Manitou is well-respected as the market leader in telescopic handlers, so it is exciting for Yanmar to have a closer relationship with them through this capital investment.

“It is becoming more necessary for each player to have a wide product line-up in today’s construction market, but we believe the product synergy through this strategic alliance will let the two companies become more attractive and help us to find more chances to see new customers.”

In January 2012 Manitou and Yanmar announced the signing of a strategic alliance in North America, with, they report, the initial results proving “very positive”. Manitou Americas distributes Yanmar’s compact excavators in North America under the Gehl and Mustang brand names, while Yanmar America distributes compact equipment skid steers and track loaders under ITS brand name. This latest capital and voting rights agreement also enhances the groups’ 25 year partnership with engines.

“To include Yanmar among the shareholders that accompany and support our development is proof of the solidity of our industrial and familial model and ITS growth potential", said Dominique Bamas, president and CEO of Manitou.
Manitou and Yanmar say they will seek other development opportunities while working to reinforce their independent dealer networks.

Bamas added, “Product expansion opportunities are currently underway to develop distribution networks for the Gehl and Mustang branded excavators in Mexico, Central America and Latin America. The expansion of our excavator distribution will extend our brand exposure as well as provide greater opportunities for increased business.

“Working with our current dealer distribution network throughout these regions, this valuable opportunity to enter the growing excavator market segment will lead to our mutual success for increased revenue and a strengthened strategic alliance with Yanmar."

For more information on companies in this article

Related Content

  • Global growth in machine rental
    May 20, 2015
    The machine rental sector is undergoing significant expansion worldwide – Dan Gilkes reports. Plant hire, equipment rental, leasing, call it what you will, being able to use a machine when and where you need it, with no further concerns relating to ownership costs, depreciation or sudden repair bills, remains a compelling argument for many contractors. Which is one of the main reasons for the continued growth in popularity of equipment rental across the world. Rental has been big business in the UK, the US
    Read More
  • Chinese manufacturers plan to compete globally
    June 18, 2015
    Chinese construction equipment firms have been building their operations in local markets – but are now looking to develop globally - Mike Woof writes In recent years Chinese construction equipment manufacturers have been able to capitalise on local demand in the home market. The rapid rate of expansion of transport infrastructure, fuelled by government spending, led to a massive need for construction machines. The country’s manufacturers have grown rapidly in size, investing enormously in factory capacity
    Read More
  • Sany and Palfinger finalise and sign new mutual shareholdings deal
    December 11, 2013
    Chinese construction equipment manufacturing giant Sany and leading innovative lifting solution manufacturer Palfinger have finalised and signed contracts for the expansion of their mutual shareholdings. The move comes after an agreement in principle to extend their strategic partnership was reached by the two construction groups at the end of September 2013. Herbert Ortner, CEO of Palfinger, headquartered in Salzburg, Austria said, “During the past few weeks we have discussed the details of the capital i
    Read More
  • Komatsu buying German firm GHH
    December 22, 2022
    Komatsu is buying the German maker of underground equipment, GHH.
    Read More

Highlighted Content