Wednesday, October 21, 2020
News

Mahindra & Mahindra increases stake in Sampo Rosenlew to 74.97 pc

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai (Maharashtra) | September 25, 2020 3:42:26 PM IST
Mahindra & Mahindra has raised its shareholding in Finland-based Sampo Rosenlew Oy to 74.97 per cent.

Mahindra & Mahindra has been a shareholder in Sampo Rosenlew since July 2016. Since then the two companies have closely worked on a global alliance to drive the growth of their combine harvester and forest machine businesses in various parts of the world.

In line with Mahindra's governance principles for associate companies, Sampo will continue to be run as a standalone, independent business unit while simultaneously leveraging synergies where possible.

Mahindra & Mahindra is the world's largest farm tractor manufacturer by volume. Harvesting machinery is the second-largest category in the global farm equipment industry.

"Mahindra's scale in tractors and Sampo's expertise in combine harvesters allows both companies to offer a broader product portfolio to address the needs of farmers in various countries," the company said in a statement.

Sampo brings to Mahindra world-class technology in combine harvesting for the core Mahindra markets of India, Asia and Africa. The Mahindra backing provides Sampo with growth opportunities in new export markets and enables Sampo to leverage Mahindra's strength in manufacturing, sourcing and distribution.

Sampo clocked a turnover of 49 million euros (about Rs 421 crore) in the year ended March 31. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Healthy Q2 results, lower infection rate...
Motherson Sumi to acquire Bombardier's w...
India's April-August FDI inflow rises 13...
Qualcomm, Reliance Jio light up India's ...
HUL's Q2 consolidated net profit logs gr...
HYSEA Innovation Summit to be held on No...
More...
 
INDIA WORLD ASIA
Omar anguished, NC angry over ED summons...
J&K L-G advises regular monitoring of so...
India to observe Oct 22 as Black Day to ...
Crackdown forces creating rift between r...
Air India bids deadline likely to be ext...
SP's Ram Gopal Yadav files nomination fo...
More...    
 
 Top Stories
Robert Downey Jr, Mark Ruffalo defe... 
Govt may sweeten deal further for A... 
Panaji bans large effigies of demon... 
Progress made on US Covid-19 relief... 
Shops, other businesses to now open... 
J&K L-G advises regular monitoring ... 
Dharmendra, Hema Malini's latest pi... 
Suraj Pe Mangal Bhari tries revivin...