Japanese-owned Kverneland Group Acquires Øksnevad Eiendom
Kverneland Group, owned by Japanese Kubota Group, is further investing in the future of the Plough factory in
Norway buying the local Property Company Øksnevad Eiendom AS, who owns the land and the buildings. The purchase price is based on a property value
of EUR 40M.
Since Kubota’s take-over of Kverneland Group in 2012 it remains a key strategic priority to further strengthen the supply chain efficiency and capacity by taking benefits of Kubota’s strong expertise and experience in the well-known Japanese production philosophies and methods, which are being implemented across all sites.
In addition, Kubota has supported significant investments in plant infrastructure, equipment and machinery and this last key milestone of purchasing the premises at Kverneland Group Klepp is another example of the strong ambitions and commitment.
Dai Watanabe, CEO of the Kverneland Group, is stating that this acquisition is an important strategic step following substantial investment in the Plough production site in recent years, which have increased automization, improved efficiency and increased capacity. He further emphasizes the significant benefits of having finalized the process of gathering all activities at the Øksnevad site, including the new R&D Centre with testing facilities and the metallurgical laboratory, which was previously located 5 km. away. Watanabe concludes that the purchase of the Øksnevad Eiendom AS is another important milestone in the further development of Kverneland’s position as the leading plough manufacturer of the world.