Ingersoll Tillage Group Complete the purchase of the majority of the capital of Acorn

The shareholders of the society North American Tillage Company that operates like Ingersoll Tillage Group (ITG) have purchased the majority of the capital of Corporation Patricio Echeverría (Acorn), culminating the agreement of purchase signed in December 2013. The operation is effective from 20 March 2014. Leonard Wessel, one of the main shareholders of ITG, self-evident that “CPE has a very established record in the sectors of agricultural solutions and hand tools and has one of the most recognised marks in the world, Acorn. We see big opportunities for the expansion of CPE and the Board of directors has communicated his commitment to invest and grow in the marks Ingersoll and Acorn to satisfy the global needs of the customers. The new group will create the only manufacturer and global provider of products and solutions for crop, seeds and recolección of cane of sugar, at the same time that will reinforce the strategic position in the business of hand-held Tools”.

On 21 March 2014, the Board of directors of Corporation Patricio Echeverría (CPE) announced the nomination of Steve Garrette like president and CEO of Corporation Patricio Echeverría. Garrette Keeps his current place of president and CEO of Ingersoll.

The new group has capacity like global provider of products of manufacturing of the floor with a total of 6 plants of manufacture, including the plants of Europe, Sudamérica and India, and with 2 plants of manufacture in North America. “The big manufacturers of would scheme agricultural are increasing his international presence, many of them manufacturing in other countries”, manifested Steve Garrette. “Now we are better prepared like provider stood out to support the global operations, and develop innovative solutions to help feed this world in growth”. “Have many win to support still better to our customers, promoting both marks, Ingersoll and Acorn”, concluded.