Japan’s Sumitomo Heavy Industries, the majority owner of Link-Belt Cranes and HSC Cranes (Hitachi Sumitomo Co), has concluded its agreement with Hitachi Construction Machinery to acquire its 34 percent stake in Sumitomo Heavy Industries Construction Cranes/ HSC, thus converting it into a wholly owned Sumitomo subsidiary. The deal was originally agreed at the end of November.
Link-Belt chief executive Melvin Porter said: “This further reinforces Sumitomo Heavy Industries’ long term commitment and investment in the mobile crane business. We look forward to the continued growth and strengthening of the mobile crane business.”
Sumitomo has had a relationship with Link-Belt since 1963, when the two companies formed a ‘technological partnership’ leading to the production of Sumitomo Link-Belt lattice crawler and truck cranes in Japan. In 1986 Sumitomo acquired Link-Belt cranes from its former owner FMC. Hitachi Sumitomo Cranes was established in 2002 when Hitachi and Sumitomo merged their crane operations to create Hitachi Sumitomo, which was rebranded HSC in 2006.