13 August 1999

Kverneland in AMT spol move

KVERNELAND is to acquire 50% of the shares of AMT spol, the importer for the companys product range in Czech Republic and Slovakia.

An agreement has also been reached which gives Kverneland the right to acquire the rest of the shares on certain conditions.

The take-over, which is part of Kvernelands expansion plans for Eastern Europe, is intended to provide the company with direct access to important markets throughout the regions and strengthen not only its own position, but also that of the Vicon and Rau brands taken over by Kverneland in 1998/99.

According to Kverneland, the Czech Republic has considerable agricultural areas and a need for modernisation and an increase in productivity. This will result, says the company in an increase in demand for agricultural machinery in the future. &#42