Kverneland is to sell its baler division to Bucher Industries, the parent company of Kuhn Group for 115m euros.
This includes the baler plant at Geldrop, Netherlands, where 400 employees currently makes fixed and variable chamber round balers, big square balers, bale wrappers, drum mowers, tedders and maize choppers.
The sale does not include the Kverneland, Vicon and Taarup brands, which Kverneland will retain the rights to. In fact Bucher will continue to produce balers for Kverneland until 1 September 2010.
Kuhn Group, based at Saverne in France, has a total workforce of 3000 employees and operates six manufacturing companies, four of them in France, one in Wisconsin, USA and one in Brazil.
In 2007, Kuhn Group’s net sales were 565m euros, with 70% of that generated by export sales. The company reported a sales increase of more than 20% for the first nine months of 2008.