YANMAR Announces Establishment of Joint Venture in India
May 2, 2014
Yanmar Co., Ltd.
On April 25, 2014, YANMAR Co., Ltd. (Head office: Osaka, Japan. President: Mr. Takehito Yamaoka), Coromandel International Limited* (Head office: Hyderabad, India. Managing Director: Mr. Kapil Mehan) and Mitsui & Co., Ltd. (Head office: Tokyo, Japan, President & CEO: Mr. Masami Iijima) concluded a Joint Venture Agreement for Agri-solutions, which includes the manufacturing, sales and after-sales service of rice transplanters and combine harvesters in the Indian market.
*Coromandel International Limited is a group company of Murugappa Group, a conglomerate group in India, and well known among Indian farmers as India’s second largest manufacturer of fertilizers and agrichemicals.
1. Background and Purpose:
YANMAR’s endeavors in the past few years have included sales of rice transplanters, as well as imparting knowledge of rice planting techniques employed in Japan among farmers in South India. With a view to significantly enhance paddy field productivity by utilizing rice transplanters and combine harvesters along with practices that best match local needs, YANMAR, Coromandel and Mitsui are collaborating to form a joint venture for Agri-solutions. The joint venture will focus on spreading rice farming practices employed in Japan, while also promoting farm mechanization in order to enhance yields in the region.
2. Outline of Joint Venture:
(1) Company name: YANMAR Coromandel Agri-solutions Private Limited
(2) Head office: Location tentatively scheduled for South India
(3) Established: Tentatively scheduled for June 2014
(4) Shareholder composition: YANMAR Asia (Singapore) Corporation Pte. Ltd.: 40%,
Coromandel International Limited: 40%, Mitsui & Co. (Asia Pacific) Pte. Ltd.: 20%
(5) Business scope: Agri-solutions, including manufacture, sales and after-sales service of rice transplanters and combine harvesters
(6) Target sales: Approximately 7 billion yen (Note: FY2018 plan)
Note: Information contained in News Releases is valid at the time of publication and may differ from the most recently available information.
Public Relations Group
General Affairs Div., YANMAR Co., Ltd.