Indian tractor manufacturer Mahindra has recently announced its foray into the global combine harvester market by joining forces with Finnish combine manufacturer Sampo Rosenlew.
Under the strategic partnership, Mahindra will acquire 35 per cent stake in Sampo Rosenlew, with the deal expected to be finalised by June 30.
Both companies will join hands in focusing on the combine harvester markets in Asia, Africa and Eurasian Economic Union countries.
Mahindra executive director Dr. Pawan Goenka says Mahindra has been successful in the agriculture market with its tractors and now hopes to build a more comprehensive ag-product line-up.
“We are now putting in place a strategy to build a full product line of farm equipment that goes beyond tractors and with this we will compete globally in both advanced and developing markets,” he says.
Mahindra Farm Equipment & Two Wheeler president and chief executive Rajesh Jejurikar says he is confident about the new venture.
“Sampo Rosenlew will enable Mahindra to grow in the global combine harvester business,” he says.
“The two companies will work closely towards taking Sampo’s combine harvesters to new markets globally, including India.”
Sampo Rosenlew is well-known in the global combine harvester market for its mid-sized combines and is expected to develop a new range of harvesters for developing markets and specialty crops.
The company, based in Pori Finland, currently sells its machines to over 50 countries in Europe and North Africa.
Sampo Rosenlew CEO Jali Prihti says the venture with Mahindra will enable Sampo to enter new markets which it could not otherwise with its own resources.
“This strategic partnership with Mahindra & Mahindra is a natural step towards the world’s fastest growing markets in Asia, Middle East and Africa together with the strongest possible partner,” he says.
“With this collaboration we aim to increase the manufacturing volumes in combine harvesters and components in Pori.”