19 January 1996

Kverneland wraps

Accord acquisition

KVERNELAND has now completed its purchase of German pneumatic drill manufacturer Accord. It is a move which follows an agreement made in 1994 when Kverneland obtained an initial 26% stake and an option to take over the rest of the company at a later date.

The addition of Accord to Kvernelands business is intended to help strengthen the companys soil preparation product range and, as a result, could also mean investment in new drill/cultivation combinations.

Accord is reported to have had a DM55m turnover in 1995 with pre-tax profits claimed to match the best results of existing Kverneland companies.

For UK Accord importer Ferrag – a company which takes over 20% of Accords total production – the acquisition is said by Kverneland to make little, if any, difference to current marketing arrangements. &#42