RACINE, Wis. — CNH Global N.V. has formed an alliance with Japan's Kobe Steel and one of its wholly-owned units to develop, build and sell crawler excavators worldwide.
U.S.-based CNH, the world's third-largest construction equipment maker, signed a tie-up pact with Kobe Steel and Kobelco Construction Machinery Co. in Tokyo, they said.
“This alliance is of strategic importance for our current and future position within the global construction equipment business,” said Paolo Monferino, CNH president and CEO.
Kobelco, the world's fourth-largest maker of hydraulic excavators, said it would become a full line supplier of construction equipment in Japan and the Asia-Pacific region with the addition of CNH's range of products.
CNH has acquired a 10 percent stake in Kobelco Construction Machinery and 65 percent of Kobelco America.
Kobelco Construction Machinery has acquired full control of CNH's construction equipment operations in Asia, including China and Australia.