Yamaha Motor, Fuji Heavy Industries conclude contract to transfer of U.S. technological assets
Iwata [Japan], Dec.7 (ANI): Yamaha and Fuji Heavy Industries Ltd. have reached an agreement and have concluded a contract regarding the transfer of technological assets of selected multi-purpose engines and the capital stock of a U.S. sales company of Fuji Heavy Industries.
The two companies are progressing discussions towards completion of the transfer by October 1, 2017,in view of Fuji Heavy Industries ceasing the production and sale of multi-purpose engines etc. at the end of September 2017.
With regard to the transfer of technological assets, Fuji Heavy Industries will specifically, transfer to Yamaha Motor Powered Products Co., Ltd. technology relating to three products, namely, EH65, EH72, and EH65V of the EH Series V-Twin Overhead Valve multi-purpose engine range, which are used in large generators and large lawn mowing machinery etc.
The acquisition of this technology will enable YMPC to sell the EH Series V-Twin Overhead Valve multi-purpose engines both within Japan and overseas.
Regarding the transfer of the U.S. sales company, all shares of Subaru Industrial Power Products held by Fuji Heavy Industries will be transferred to Yamaha Motor Corporation, U.S.A.
Through this acquisition, Yamaha will not only continue after-sales service for Fuji Heavy Industries' multi-purpose engine business in North America (excluding Mexico), but also further strengthen its power products business in North America. (ANI)