Yanmar Acquires Share Of Manitou
Yanmar announced that it has acquired 6.26% of the capital and voting rights of Manitou BF. The shares were acquired from the French bank Société Générale. This shareholding investment comes as the two groups enhance their strategic alliance, expanding cross distribution into Mexico and Latin America.
“Manitou is well-respected as the market leader in the telescopic handler (market), so it is exciting for Yanmar to have closer relationship with them through this capital investment,” said Takehito Yamaoka, president of Yanmar Co. Ltd. “It is becoming more necessary for each player to have wide range of 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 of 2012, Manitou and Yanmar announced the signing of a strategic alliance in North America for which the initial results have been positive, the companies said. Manitou Americas distributes Yanmar’s compact excavators under the Gehl and Mustang brand names throughout North America while Yanmar America distributes skid-steers and track loaders under its brand name.
The arrival of Yanmar as a Manitou shareholder embodies the will to strengthen their industrial and commercial partnerships over the long-term. “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," stated Dominique Bamas, president & CEO of Manitou.
“Our synergetic alliance had a good start in the U.S. market,” stated Tetsuya Yamamoto, director of Yanmar Co., Ltd. and the general manager of the Corporate Planning Division. “We are sure this investment will bring the two companies a good result.”
Empowered by this capital link, Manitou and Yanmar said they will seek other development opportunities while working to reinforce their independent dealer networks.
"In addition to having very similar corporate cultures, the synergies which exist between the two companies are numerous and strong,” Bamas said. “Among those available to us this partnership intensifies our collaboration with respect to engines.
“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."