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

  • Deere & Company planning to buy Wirtgen
    June 1, 2017
    A major acquisition looks likely for the construction machinery sector, with the German Wirtgen Group becoming part of Deere & Company. An agreement has been signed that will see Deere acquiring the Wirtgen Group.
    Read More
  • CNH Global alters alliance with Kobelco Construction Machinery
    January 2, 2013
    CNH Global says it’s entering the ‘next phase’ of agreements with Kobelco Construction Machinery, following an ongoing strategic review of its construction equipment business. Under the new, non-exclusive licensing and supply agreements, which took effect on January 1, 2013, CNH and Kobelco Construction Machinery are unwinding their joint ownership and equity participations in all the companies formed in connection with their previous alliance and eliminating any geographical exclusivity rights associated w
    Read More
  • Ammann plan Indian strategic partnership with Gujarat Apollo Industries
    December 19, 2012
    Ammann and Gujarat Apollo Industries Ltd (GAIL) have signed binding agreements which will see Ammann Group pay around €44 million to acquire a 70% share in the Indian company’s plant and machine business. Said to be the Indian market leaders in road construction equipment, GAIL’s core products include road pavers, asphalt mixing plants, bitumen sprayers and compaction machines. The joint venture is seen by the Ammann Group as underscoring its global growth strategy while, crucially, heralding its entry into
    Read More
  • Mecalac enters American market with a range of machines
    March 8, 2017
    French manufacturer Mecalac is making its first appearance CONEXPO-CON/AGG as part of its strategy to expand into the American markets. The company unveiled two new wheeled excavators at the show, as well as displaying its existing range, and announced it is looking for potential distributors.
    Read More

Highlighted Content