Spanish-based energy systems company Himoinsa has signed an agreement with diesel engine producer Yanmar, allowing Himoinsa to add generator engines to its line-up.
As part of the deal, Japanese-based Yanmar will acquire a 70% stake in Himoinsa, but there will be no changes in company names, structure or branding at either business.
According to the Yanmar executive board, the new business structure will enable Himoinsa to improve its industrial development. Yanmar said the move would also help provide a wider product range and improved production processes.
Himoinsa president Francisco Gracia said the company already had an excellent relationship with Yanmar, which started in 2006 with joint ventures for its genset business. Himoinsa currently manufacturers its own alternators, electric controllers and other components – with generator engines now added to its business line.
Gracia said that Himoinsa’s distribution network would be improved as a result of the deal.
Gracia said, “We believe the bond created between the two companies will be stronger than if we were operating separately. It will also give us a more prominent position in the global market.”