ZUG, SCHWEIZ, October 29, 2020 /EINPresswire.com/ — Zasso Group AG, a leading specialist in electric weeding solutions, announces that CNH Industrial N.V. (“CNHI”) has acquired a minority stake in its company. Zasso™ also confirms the renewal of its Supply Agreement with CNHI, and its extension worldwide. CNHI is a global leader in the capital goods sector, including tractors and agricultural machinery, with over US$ 28 billion in revenues and 63’000 employees.
With this transaction, Zasso™ is significantly increasing its distribution capability, further strengthening its R&D platform, and consolidating its intellectual property portfolio. Zasso is offering a viable substitute to glyphosate and other chemical herbicides, in a wide range of market segments, from Agriculture to Industrial Vegetation Management and Consumer Markets.
“The entry as a minority shareholder of one of the most established industrial companies in the world
is a vote of confidence on the quality and potential of our company,” states Benjamin Ergas, co-CEO of Zasso Group AG. “It provides legitimacy to Zasso’s electric weeding solution and family of products.”
“Zasso™ is determined to play a leading role in the transition towards an herbicide-free world. This partnership greatly furthers the path to achieve our vision” states Sergio Coutinho, co-CEO of Zasso Group AG. “It also allows Zasso™ to maintain strategic, financial and operational independence.”
Zasso™ will further benefit from CNHI’s global roll-out of AGXTEND, announced last December. AGXTEND, CNHI’s leading platform for innovative technologies in the agricultural sector, commercializes Zasso’s tractor-based electric weeding solutions under the XPOWERTM product name.
Zasso Group AG is an innovative Swiss-based company specialized in non-chemical weed management solutions using advanced power electronics. Originally developed in Brazil, the patented technology targets both the shoots and the even more critical roots of undesired plants systemically by employing advanced lightweight high-voltage methods. The solution is commercialized under the name of Electroherb™ and XPOWER™. Its flexible, interchangeable applicators allow the system to be used in a range of surfaces and segments including agriculture, consumer market, and urban areas. In the context of dwindling number of available methods for environmentally friendly plant control. Zasso’s mission is to develop the necessary control and power modules that will help make the world herbicide-free, for a better future. With offices in Zug (Switzerland), Indaiatuba (Brazil), Aachen (Germany) and Paris (France), Zasso strives to demonstrate leadership in the electric weed control technology in all the markets it serves. More information can be found on the corporate website: www.zasso.com.
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com.
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Source: EIN Presswire