Hidromek acquires Mitsubishi grader business
By Helen Wright25 November 2013
Turkish manufacturer Hidromek has acquired Mitsubishi Heavy Industries’ (MHI) grader business, together with its production facilities in Thailand.
Hidromek, which also manufactures backhoe loaders and excavators under its own brand name, said the deal would enable it to further penetrate Asian markets.
Hidromek said it would continue operations at MHI’s production facility in Thailand, MHI-Pornchai Machinery, keeping existing employees.
This means the factory will become Hidromek’s first outside Turkey, where it has four production bases. It said the deal was in line with its 10-year growth strategy and its goal of becoming a global brand in the construction equipment industry.
Under the terms of the acquisition, MHI will provide technical support and parts to Hidromek for another two years, as well as offer after-sale servicing support for customers in Japan. At the end of this period, Hidromek will take over these activities.
Meanwhile, Mitsubishi said it was seeking to focus on its core business. Indeed, the news comes after Caterpillar bought out a joint venture it had with the manufacturer in March last year.