Mahindra & Mahindra, Mumbai-based tractor major, today announced its foray into global combine harvester business, by entering into a strategic partnership with Sampo Rosenlew of Pori, Finland.
M&M has bought 35% stake in the family-run, profitable Finnish company. The transaction is expected to close by June 30, 2016. The two companies will work in tandem to grow the business.
In 2014-15 Sampo Rosenlew had a stand-alone revenue of Euro 93 million. It has built significant business in core markets of Europe, Eurasian countries and North Africa, said a statement from M&M.
Pawan Goenka, executive director, M&M said, "We are 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."