Following the agreement signed last November 5, AMA, Italian supplier of components for Off-Highway Vehicles (OHV), closed the acquisition of the Agriculture division of CMR Group. As a result, AMA has acquired 100% of the share capital of CMR Agriculture and 51% of the share capital of Taizhou CMR Machinery, which together represent the Agriculture division of CMR Group.
This division specializes in the design, manufacturing, and commercialization of gearbox housings, reducers, drive shafts, disc bars, and spare parts for machinery used in agricultural, forestry, and gardening applications.
“The announcement made last November is now materializing into a decisive strategic step for our growth,” said Alessandro Malavolti, CEO of AMA. “This acquisition allows us to expand our product range, enhance our innovation capabilities, and strengthen our leadership in international markets.”
Ezio Paganelli, sole director of CMR Group commented: “We are proud to have built, over the years, a high-quality product range recognized worldwide. This acquisition represents an opportunity to ensure continuity and further development of our work within a strong group like AMA”
The acquisition was financed through a medium-to-long-term bank loan granted by a pool of banks composed of Banco BPM S.p.A., Cassa Depositi e Prestiti S.p.A., Crédit Agricole Italia S.p.A., and UniCredit S.p.A.
