Yanmar launched joint venture on agricultural machinery
Yanmar launched joint venture on agricultural machinery
Yanmar Vietnam, a joint venture to manufacture agriculture machinery between Vietnam’s Sovico Holdings and Japan partner Yanmar Group on December 4 took opening ceremony in Ho Chi Minh City.
Licensed in August this year, the joint venture has the total investment capital of VND294 billion ($14 million). Following this, Yanmar Vietnam will import, distribute, management consult and maintenance agricultural machinery in Vietnam market and will assembly and manufacture in near future.
According to Naoki Kobayashi, member of the Board and managing director of Agricultural Machineries & Equipment of Yanmar Group, the company will introduce to Vietnam the leading quality agriculture machineries with best warranty, maintenance policy and genuine spare parts supplying.
“Yanmar’s agricultural machinery products will contribute to the implementation of Vietnam policies in mechanisation, productivity and quality improvement of agriculture sector in Vietnam,” said Kobayashi.
Yanmar Group was founded in 1912 and its headquarter is in Osaka, Japan. Yanmar is the leading group in Japan in the field of agricultural machinery including combine harvesters, tractors, transplant machines, marine engines, construction machines and power generators. In 2013, the group earned $6.5 billion in sales and its net income was $450 million.
