Vermeer, which manufactures agricultural and industrial equipment, has announced it will sell its minority interest in Lely Vermeer Maschinenfabrik, Gmbh to Lely Holding.
According to Vermeer executive vice president Mark Core, the two companies have completed several successful collaborations during the last two decades. The move will allow each organization to focus on its own core markets.
“Lely and Vermeer have had a close working relationship since the mid-1980s,” he says. “As the market changes, this is a natural evolution.”
Core adds that North American farmers and ranchers can continue to rely on Vermeer for “innovation in the round baler category, as well as the products that support them in the field.”
Lely, meantime, will continue to be a key supplier for Vermeer, Core says.