ASV and Yanmar Announce their Merger
Published: 19/8, 2019
Construction equipment manufacturers ASV and Yanmar have finalized details of their merger agreement. Combining ASV’s compact track loaders and skid steer loaders with the compact equipment portfolio of Yanmar creates a comprehensive and global provider of compact equipment with virtually no overlap in distribution networks. The ASV employee base, its manufacturing and distribution facility, international distribution network and supply chain will be a key part of Yanmar’s long-term international growth plans.
ASV’s Chairman and CEO Andrew Rooke calls Yanmar “a strong strategic buyer” for his company. “Yanmar shares our vision to provide the highest-quality products, values the long legacy of ASV, and is committed to supporting its employees and distribution partners,” Rooke says. “The merger will create a strong platform for growth and expansion, bringing together two leading brands with similar cultures and creating value.”
Giuliano Parodi, Executive Officer of Yanmar Holdings, added that the addition of ASV acquisition will significantly bolster Yanmar’s compact offerings in the loader segment.
“With its highly-skilled workforce and quality CTL/SSL lineup, ASV is a great fit for both Yanmar’s focus on quality, and our growth and expansion plans in the North American and global markets,” Parodi says. “It will create a comprehensive and global provider of compact equipment with virtually no overlap in distribution networks.”