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Buhler Industries, the publicly traded Versatile and Farm King equipment manufacturer, has been sold.
Shareholders at a special meeting have approved a proposed deal that will see Buhler Industries, the publicly traded Versatile and Farm King equipment manufacturer, fully absorbed by Asko, its Turkish majority shareholder.
Although there will be no change to the brands or the dealer networks, the Buhler name is to be dropped. The new company, Amalco, is a wholly owned subsidiary of Asko Holdings, which purchased 96.7% of the shares of Buhler Industries in December 2023. Asko Holdings also owns Basak Traktor.
The company says the main reason for the change is that substantial investments are required over the next few years to modernise the Versatile tractor plant in Winnipeg and the Farm King factory in Morden, both located in Canada.
In a move to start both upgrades quickly, with limited disruptions to production, the common shares will be de-listed from the Toronto Stock Exchange and Buhler Industries will apply to cease to be a reporting issuer under applicable Canadian securities laws.
The arrival of new F8 and F9 designations for its 8000 and 9000 series forage harvesters, signals a swag of upgrades from John Deere, highlighted by topping the 1000hp mark for the first time.
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Samasz distributor FarmShop has introduced the new XDF Series Front Mowers, said to be refined for local conditions and to improve cutting precision and wear resistance.
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