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Japanese diesel engine producer Yanmar has signed a consolidated operation agreement with Spanish genset manufacturer Himoinsa and will acquire a 70 per cent stake in the latter
However, no changes to company names, branding or employee structuring will occur at either firm as a result of the arrangement, said Himoinsa in a statement.
The agreement is expected to boost the position of both companies in global markets, and enable the Spanish genset manufacturer to add generator engines to its existing product line.
Himoinsa president Francisco Gracia said, “To gain competitive advantage in the global market for Himoinsa as much as for Yanmar, we have sought to strengthen our mutual ties, resulting in our current partnership. Our distribution network will benefit from this agreement.”
Himoinsa’s long-standing goal has been to operate as a vertical manufacturer, offering a product that features 100 per cent quality. In this pursuit, the company has oriented its business strategy to engineer and manufacture all the components required for a genset. The company already produces its own alternators, electric controllers, canopies and other components.
According to sources on the Yanmar executive board, the consolidated business structure will enable Himoinsa to improve its industrial development and strengthen its position in the international market. The alliance will provide a wider product range with technological excellence, more advanced, higher-quality production processes, a stronger sales rate and more robust development of Himoinsa’s services and company professionals.