Sovico Holdings establishes joint venture with Japanese partner

Thursday, Dec 11, 2014 16:11

A representative from Yanmar Group introduces an agricultural machinery to the Can Tho Poeple's Committee vice chairman of Truong Quang Hoai Nam. — VNS Photo

HCM CITY (Biz Hub) – Yanmar Vietnam Company, a joint venture between the Japanese Yanmar Group and Sovico Holdings, was launched last week in HCM City.

Issued a licence in August, the VND294-billion (US$13.67-million) joint venture will import, distribute and offer management consultancy and maintenance of agricultural machinery in the Vietnamese market, and in the future, they assembly and manufacture.

The Yanmar Group, founded in 1912 and headquartered in Osaka, is a leading group in Japan in the field of agricultural machinery. In 2013, the group reported a net income of $450 million.

"We introduce to Viet Nam quality agricultural machinery with the best warranty, maintenance policy and genuine spare parts," Naoki Kobayashi, member of the board and managing director of the Yanmar Group's agricultural machinery and equipment, said.

The director hoped that these products will help increase productivity and improve the quality of the agricultural sector in Viet Nam.— VNS

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