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
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."
