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Yanmar agri-technology
Japan’s #Yanmar has signed an Rs.1,600 crore agreement with #Blackstone Equity Investors to increase its stake by 18 per cent in the Punjab-based #International Tractors Ltd, makers of #Sonalika brand of tractors.
Post-acquisition, Yanmar’s stake in Sonalika will reach 30 per cent.
The deal, to be completed by January, 2017 will also introduce Japanese technology to the Indian agriculture sector.
“We have already signed a technology agreement with the company,” said #AS Mittal, vice-chairman, Sonalika Tractors.
The partnership is a combination of Japanese technology and Indian cost, he added.
A prototype tractor will be development in collaboration with Yanmar in the next six to eight months, he said.
The partnership aims to manufacture tractors for the domestic and export markets by 2019.
Sonalika tractor manufacturing facility is being expanded to 2 lakh units per year from 80,000 units. fii-news.com
