Sumitomo fully acquires LBX

Premium Content

10 May 2010

Sumitomo Construction Machinery (SCM), part of Sumitomo Heavy Industries has fully acquired LBX company. The deal announced today is retrospectively active from April 30. The value of the transaction was not disclosed.

LBX was originally set up as a 50:50 joint venture between SCM and Case that was part of its global excavator alliance. LBX holds the rights to manufacture SCM's excavators in the Americas, and markets these products under the Link-Belt excavator brand name.

Commenting on the deal. LBX CEO Robert Harvell said, "This acquisition underscores SCM's dedication to LBX and the Link-Belt excavator brand, and will contribute greatly to our success and expansion throughout North, South and Central America."

Kensuke Shimizu, president of SCM added, "We believe that this acquisition will allow both LBX and SCM to achieve our common long-term global growth strategies."

Jim McCullough, CEO and President of CNH Construction said, "The decision to sell our interest in LBX is a continuation of the strategy we began in 2009 to consolidate back office brand management and streamline our industrial footprint. This allows CNH to concentrate efforts on our key construction brands and strengthen the foundation for our brands continued growth as we continue to take advantage of market opportunities."

The future of off-highway power is about integration, not just innovation
OEMs face growing complexity in powertrain decisions – but clarity is emerging around efficiency and uptime
A Chinese OEM’s view of construction equipment today – and tomorrow
LiuGong’s Andrew Ryan believes forward-thinking OEMs must combine local execution, useful tech and a greater focus on total cost of ownership
Could Istanbul be the construction industry’s next global meeting point?
Where continents, capital and contractors converge – Komatek 2026 could play a signficant role in turning Istanbul into a vital hub for the construction industry