Hitachi Construction Machinery will buy out the shares of the loader and forklift maker TCM Corp. through a 1-for-10 share swap by the end of the year. Hitachi already owns 51 percent of TCM. The deal's significance is heightened considering Hitachi's announcement last October that it would take Kawasaki Construction Machinery as a joint-venture partner in developing wheel loaders to satisfy EPA Tier 4/EU Stage IIIB diesel emissions requirements. Hitachi retains an option to fully acquire that joint venture in 2012.
Staff | September 28, 2010