Manitou Americas Inc.

Yanmar and Manitou Strengthen Strategic Alliance

Yanmar has acquired 6.26 percent 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.

Manitou families and management are very pleased of the transaction and see it as a very positive development. Takehito Yamaoka, the President of Yanmar Co. LTD said, “Manitou is well respected as the market leader in the telescopic handler, so it is exciting for Yanmar to have a 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.”

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.

Manitou to Get Yanmar Mini Excavators in Exchange For Gehl Skid Steers

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."

The arrival of Yanmar as a Manitou shareholder embodies the will to strengthen their industrial and commercial partnerships over the long term.

“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," said Dominique Bamas, president and CEO of Manitou.

Empowered by this capital link, Manitou and Yanmar will seek other development opportunities while working to reinforce their independent dealer networks.

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 excavator distribution will extend brand exposure as well as provide greater opportunities for increased business.