In a press release, Yanmar said it has now increased its investment in Turkey with the addition of a tractor factory. With a signing ceremony held in Istanbul, Yanmar has completed the acquisition of Solis Traktör Sanayi A.Ş., located in Izmir Menderes from its partner in Turkey, International Tractor Limited (ITL). While Yanmar will continue to produce a Solis branded tractor, in the future Yanmar is also planning to produce Yanmar-branded Tractors at the factory.
“Yanmar has been in cooperation with ITL since 2005,” said Mustafa Kemal Erdogan, Chairman of the Board of Directors of Yanmar Turkey Makine A.Ş., after the signing ceremony. “We continue this partnership as one of the biggest shareholders of Solis Traktör as of 2016. We are delighted that Solis Tractor Industry and Trade Inc., whose foundations were laid in Izmir in 2017, has now joined Yanmar.”
With the acquisition Yanmar further strengthens its position in Turkey towards contributing to the Turkish economy and employment through the company’s investments which are expected to continue to grow in the coming years.