Construction Lifting & Concrete Placement

Sumitomo Buys Back Hitachi Construction Machinery Shares

Jan. 17, 2023

Sumitomo is the parent company of Link-Belt Cranes

Sumitomo Heavy Industries (SHI), the parent company of Link-Belt Cranes, has acquired shares of Sumitomo Heavy Industries Construction Cranes Co., Ltd. (HSC) held by Hitachi Construction Machinery Co., Ltd. (HCM). The move will make HSC a wholly owned subsidiary of SHI.

The transaction occurred at the end of 2022 when SHI acquired the remaining 34 percent of shares held by HCM. HSC is now a 100-percent wholly owned subsidiary of SHI.

The move is intended to grow the company’s construction crane business, according to SHI, 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.

“This further reinforces SHI’s long-term commitment and investment in the mobile crane business,” said Melvin Porter, president/CEO of Link-Belt Cranes, in a statement. “We look forward to the continued growth and strengthening of the mobile crane business with the support of SHI and collaboration with HSC.”

Source: Sumitomo Heavy Industries

About the Author

Rod Sutton

Sutton has served as the editorial lead of Construction Equipment magazine and ConstructionEquipment.com since 2001.

Our mission is to help managers of heavy equipment and trucks to improve their performance in acquiring and managing their fleets. One way we do that is with our Executive Institute, where experts share information and ideas that will enable equipment managers to accurately manage equipment costs so that they can deliver the optimum financial benefits to their organizations.

We also have a laser focus on product development, performance, and technology; as well as equipment acquisition, disposal, and maintenance. Our exclusive Field Tests take earthmoving equipment and truck into the field for professional evaluations.

Check out our free newsletters to see the latest content.

You can find Sutton on LinkedIn.