Kobe Steel-affiliated Kobelco Construction Machinery announced that it will acquire European company CNH Industrial's construction equipment business for ¥114.5 billion. CNH will acquire 70% of the shares in 2 new companies established in the US and UK, while retaining the remaining 30%.
Kobe Steel-affiliated Kobelco Construction Machinery has agreed to acquire CNH Industrial's European construction equipment business for ¥114.5 billion. CNH plans to acquire a combined 70% stake in 2 new companies established in the US and UK, while retaining the remaining 30%. The next procedures and progress in obtaining approvals may be the focus going forward.
CNH Industrial's construction equipment business offers a lineup of compact construction equipment for residential and commercial facilities, as well as large construction equipment for infrastructure, public works and mining. Sales in North America account for approximately half of the total, and the business also has sales networks in Europe and Central and South America.