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Tag: Sumitomo
Business
CNH Industrial to build Sumitomo crawler excavators under new agreement
CNH Industrial, maker of the Case Construction and New Holland equipment brands, announced today that it has secured the rights to manufacture crawler excavators under the Sumitomo name. CNH Industrial CEO Richard Tobin said the move completes the company’s transition away from a “dual source excavator strategy to a single global partner” in Sumitomo. In December […]
April 28, 2014
Business
Sumitomo acquires majority stake in Sunstate Equipment
Japanese company Sumitomo Corporation announced this morning that it has increased its investment to become the controlling interest in Sunstate Equipment Co. with 80 percent of the company’s shares. Despite the U.S. construction equipment rental industry’s downturn, in December 2009 Sumitomo made a $50 million investment in Sunstate because it “was convinced that industry was […]
January 8, 2013
Roadbuilding
Sumitomo fully acquires LBX Company
CNH today announced the sale of its interest in LBX Company LLC to S.C.M. (America), Inc., an affiliate of Sumitomo (S.H.I.) Construction Machinery Co., Ltb. As a result of this transaction, LBX is now wholly owned by Sumitomo. “The decision to sell our interest in LBX is a continuation of the strategy we began in […]
May 10, 2010
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