CNH Aligns With Kobe Steel

RACINE, Wis. β€” 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.

β€œThis 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.

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