I went back on the press releases for Yanmar on their website and found this from 2007...
New Joint Venture Company with MTD of the United States
Yanmar Agricultural Equipment Co., Ltd. has established a joint venture company with Cub Cadet of the United States.? The new company will commence North American sales of Compact Utility Tractors (CUT) in October this year.
CUT痴 are small tractors in the sub-50hp range used in such jobs as domestic lawn mowing and light construction work in residential areas.? The market has expanded in recent years and has been attracting the increasing attention of both U.S. and foreign manufacturers.
Yanmar痴 base tractor business in North America until now has consisted of OEM supply to John Deere, the world痴 largest manufacturer of agricultural equipment.? While maintaining this OEM business, Yanmar also plans to develop Yanmar brand products that respond directly to user demands and are perfectly matched to the North American markets for sale through the new company.
Yanmar is a late arrival in this CUT market but brings to the joint venture a wealth of experience in small tractor technology.? By utilizing Cub Cadet痴 extensive sales network for these products, together with the high brand value of both companies, we are aiming to secure a firm market position.
Outline of the New Joint Venture:
Company name: C.U.T. Supply Company LLC
Address: 614 Liverpool Drive, Valley City, Ohio 44280
President: Masashi Shimo (from Yanmar Agricultural Equipment Co., Ltd.)
Date of Establishment: 1st November, 2006
Start of Operations: March 2007 (Full sales activity scheduled to start in October)
Business: Sale of sub-50hp CUT, general marketing etc.
Product Brand: Cub Cadet YANMAR (Co-brand)