Coromandel Yanmar Joint Venture
In an attempt to add to their product portfolio, Coromandel International, a Murugappa group company, has recently entered into a joint venture with Yanmar & Co and Mitsui Trading for manufacturing and marketing farm machinery. In the new joint venture, Coromandel and Yanmar will hold 40 per cent stake each and Mitsui 20%.

The joint venture entity will initially manufacture the Yanmar brand of mini-harvesters, planters and rotavators for paddy cultivation and then expand its range to include equipment for other crops, including sugarcane and vegetables, Chairman, Murugappa Group, A Vellayan, said adding that the machinery will target small farmers, a segment in which Japanese manufacturer Yanmar has a strong presence. The equipment will be sold and leased to farmers through Coromandel International's Gromor chain of rural market outlets. The venture in question is one of the group's key focus areas for the current year – farm mechanization and the nutraceuticals business.