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Post by ironpeddler on Jan 3, 2009 16:39:31 GMT 1
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Post by Bernhard on Jan 3, 2009 17:10:18 GMT 1
Wasn´t Geldrop the former PZ, Zweegers, Plant?
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Post by ironpeddler on Jan 3, 2009 17:32:21 GMT 1
KV press release:
Kverneland ASA divests its Bale Equipment Business Area for €115 million
Kverneland ASA has reached an agreement to divest its Bale Equipment Business Area for €115 million in cash to Bucher Industries AG. The transaction includes the Business Area’s manufacturing facility in Geldrop, the Netherlands.
“The proceeds from the sale of the Bale Equipment Business Area will enhance Kverneland Group’s financial flexibility and provide an improved basis for the core business post-transaction. Kverneland Group will continue to offer its customers a broad portfolio of high quality farming implements.” says CEO Ingvald Løyning.
The total enterprise value of the Bales Equipment Business Area is €115 million, approximately NOK 1.1 billion1. The Kverneland, Vicon and Kverneland Taarup brands are excluded from the transaction and Kverneland Group will retain all rights to these brands. In addition, Kverneland and Bucher have entered into a distribution agreement whereby Kverneland Group will continue to distribute the products of the Bale Equipment Business Area until 1 September 2010, and supply spare parts for bale equipment for an additional ten years. Anthony van der Ley, Managing Director of the Bale Equipment Business Area, will continue his management role in the business.
Kverneland Group has estimated a net gain of approximately €77 million as a result of the transaction. The final gain will be booked when the transaction is completed.
Goldman, Sachs & Co. acted as financial advisor and Wiersholm and Van Doorne acted as legal advisors in connection with the transaction.
Subject to standard clearances from competition authorities and consultation with certain employee organizations, the transaction is expected to close in the first quarter of 2009.
Key figures from the Business Area’s manufacturing facility in Geldrop, Kverneland Group Geldrop BV:
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Post by eppie on Jan 6, 2009 15:44:00 GMT 1
Bucher is quite a different beast than Kuhn, i think... Bucher is most known from the 2 wheel walk behind tractors, and hillside tractors for the alpine countries... Are they big enough to swallow this bite ?
Or is that a different Bucher, and this Bucher is an investment company that holds Kuhn SA ?
Yes Geldrop was the home town where Piet Zweegers invented the revolutionary drum mower in 1965 or so..
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Post by ironpeddler on Jan 7, 2009 17:14:27 GMT 1
Bucher is quite a different beast than Kuhn, i think... Bucher is most known from the 2 wheel walk behind tractors, and hillside tractors for the alpine countries... Are they big enough to swallow this bite ? Or is that a different Bucher, and this Bucher is an investment company that holds Kuhn SA ? Yes Geldrop was the home town where Piet Zweegers invented the revolutionary drum mower in 1965 or so.. Bucher was used as an agent to facilitate the purchase. Kuhn and Kverneland are direct competitors with Kv's flagship being Vicon. It is clear the Kuhn wants to sell this technology in North, Central and South America. The big question is will Kuhn/knight be the source of manufacturing for the Americas |
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Post by IH on Jan 8, 2009 2:17:51 GMT 1
I think this is mostly an indicator of how deep Kv is in. Their product lines in hay equipment over here (Canada) do not have a very good reputation, and now that they have "spun-off" the baler lines, I think alot of dealers will finally flush them.
Bucher, is the Swiss company that makes self-loading wagons, fruit presses, and also owns Bucher-Duro - a world renown manufacturer of military and security vehicles. They are a huge group.
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