Yanmar 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.
Marcel Braud, Chairman of the Board of Directors stated: “I would like to thank Société Générale for having always stood by us and for permitting the arrival of our partner, Yanmar, as an equity investor in Manitou”.
Takehito Yamaoka, the President of Yanmar said: “Manitou is well-respected as the market leader in the telescopic handler, so it is exciting for Yanmar to have closer relationship with them through this capital investment. It is becoming more necessary for each player to have wide range of product line-up in today’s 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 very positive. Manitou Americas, throughout North America, distributes Yanmar’s compact excavators under the Gehl and Mustang brand names while Yanmar America distributes Compact Equipment skid steers and track loaders under its brand name. This agreement also enhances the groups’ 25 year partnership regarding engines. Through constant collaboration, the Yanmar engine offering for the Compact Equipment division has met performance expectations in a changing regulatory environment.
At that time, the two groups specified that “Further complimentary value-creating initiatives can provide the opportunity to strengthen their distribution organizations. The strengthened alliance of the two companies will focus on enhancing market creditability and service to their dealers and customers.”
Dominique Bamas, President & CEO of Manitou explained that “in addition to having very similar corporate cultures, the synergies which exist between the two companies are numerous and strong. 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.”
Yanmar is a diesel engine manufacturer with more than 100 years of history and also designs and manufactures many varieties of industrial machineries such as mini-excavators and generators.