Yanmar has acquired 6.26% of the capital and voting rights of Manitou, as the two groups endeavor to grow their strategic alliance, expanding cross distribution into Mexico and Latin America.
In January of 2012, Manitou and Yanmar announced the signing of a strategic alliance in North America. Manitou Americas 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 builds on the groups’ 25 year partnership regarding 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," stated Dominique Bamas, president and CEO of Manitou. "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."
Takehito Yamaoka, president of Yanmar stated: “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 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.”