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New owner for Nagano

Japanese aerial lift manufacturer Nagano has been acquired by Japanese investment company Jafco from Chinese aerial lift manufacturer JCHI (Beijing Jingcheng Heavy Industry). Details of the transaction have not been released.

The deal is structured as an all share purchase from JCHI which acquired the business in February 2012 for just over a billion yen ($13.3 million/€10 million at the time), (See: JCHI acquired Nagano) shortly after Nagano had filed an application of commencement of Civil Rehabilitation procedures to the Nagano district bankruptcy court in May 2011.
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A statement from Jafco said: “Jafco will support the company’s business expansion plans including a programme to widen its product lineup and expand overseas, thereby contributing to the society as a leading niche manufacturer from the global perspective. It will also capitalise on its insight, expertise, and the network that it has built up over the years by laying a solid foundation to win domestic customer support.”

Vertikal Comment

This looks like a reasonable move for Nagano which while it has survived and maintained the quality of its products has not really prospered or grown under JCHI’s ownership. The company’s difficulties may well date back to the loss of the contracts to build tracked boom lifts for Aichi and Hitachi?