Coromandel International enters JV with Yanmar, Mitsui Trading

Coromandel International has entered into a joint venture (JV) with Yanmar & Co and Mitsui Trading for manufacturing and marketing farm machinery. Coromandel and Yanmar will hold 40 per cent stake each and Mitsui 20 per cent. Initially, it will 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. Coromandel International is the country’s second-largest phosphatic fertilizer player. Its crop protection business produces insecticides, fungicides and herbicides and markets these products in India and across the globe. The firm has also ventured into the retail business, setting up more than 640 rural retail centres in Andhra Pradesh and Karnataka.