YANMAR to Begin Operations at Agricultural Joint Venture in Vietnam
December 5, 2014
Yanmar Co., Ltd.
YANMAR is pleased to announce that it will begin operations of an agricultural business joint venture located in Vietnam. An opening ceremony will be held at the local office in Ho Chi Minh City, and will be attended by representatives from YANMAR, joint venture partners and Vietnamese and Japanese government officials. YANMAR Agricultural Machinery Vietnam will serve to strengthen the company’s agricultural business-related marketing, sales and service in the region.
As the world’s second largest exporter of rice, Vietnam presents tremendous opportunity relative to agricultural mechanization and high economic growth in the years to come.
With a goal of solidifying its presence in the Vietnamese market, YANMAR established an agricultural research institute in Can Tho in March 2013; this institute is intended to help sustain the market and to conduct social trend research for enhancing the area’s food production solutions.
This venture was augmented when YANMAR partnered with local conglomerate Sovico Holdings to conduct comprehensive market research. A large corporate group, Sovico encompasses bank, low-cost airline carrier, electric power and resort hotel management operations.
YANMAR Agricultural Machinery Vietnam is expected to facilitate decision-making in the local market, and contribute significantly to assertive market development with a focus on deepening customer relations and providing agricultural solutions tailored to the specific needs of the region.
Name: YANMAR Agricultural Machinery Vietnam Co., Ltd.
President: Yoshihiro Okada
Location: Ho Chi Minh City
Scope: Sales and service of agricultural machinery
Established: August 2014
Capital: 5 million US dollars
Employees: approx. 40
Sales: approx. 1 billion yen (Fiscal Year 2015)
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 Dept., YANMAR Co., Ltd.