Sumitomo becomes full owner of HSC Cranes
17 January 2023
Sumitomo Heavy Industries (SHI) has become 100% owner of Sumitomo Heavy Industries Construction Cranes (HSC) following an agreement to acquire the 34 percent stake owned by Hitachi Construction Machinery (HCM).
SHI, which is the parent company of Link-Belt Cranes, acquired the shares on December 31, 2022.
HCM and SHI merged their crawler crane businesses in 2002 to form the current HSC. Since then the two companies have cooperated in the development of cranwler cranes.
“This further reinforces SHI’s long-term commitment and investment in the mobile crane business,” said Melvin Porter, CEO and president, Link-Belt Cranes. “We look forward to the continued growth and strengthening of the mobile crane business with the support of SHI and collaboration with HSC.”
SHI stated their business strategy is to grow and strengthen the construction crane business, to reinforce cooperation related to the lifting business within the SHI group, and to solidify SHI’s Logistics & Construction Segment business, which includes the construction machinery business.