22.10.2013

Yanmar takes stake in Manitou

Japanese engine and construction equipment manufacturer Yanmar has acquired a 6.26 percent stake in Manitou. The shares were purchased from French based bank Société Générale.

The investment follows on from the strategic alliance the two companies signed in early 2012 for compact excavators and skid steer loaders in North American market, and a more recent cross distribution deal in Mexico and South America - see: Yanmar and Manitou to cross sell.

Manitou chairman Marcel Braud said: "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."

Vice chairman Jacqueline Himsworth added: "I remain very confident in the role Société Générale will continue to play in the financial support of our group."

Yanmar president Takehito Yamaoka 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 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.”