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News CNH/Kobelco January 11, 2002
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CNH Global, the third largest construction equipment maker in the world, announced on Jan. 10 the completion of its global alliance with Kobe Steel Ltd. and Kobelco Construction Machinery Co. Ltd., the world?s fourth largest manufacturer of hydraulic excavators, for the development, production and worldwide sale of crawler excavators, including mini-excavators.

"This alliance is of strategic importance for our current and future position within the global construction equipment business," said Paulo Monferino, CNH president and chief executive officer. "The introduction of the new excavator technology will allow CNH the global reach we require to be competitive in today?s market."

"Kobelco will become a full-line supplier of construction equipment in Japan and the Asia Pacific region, with the addition of CNH?s broad product offering, which serves all industry segments in specific customer needs," said Tsuguto Moriwaki, president and chief executive officer of Kobelco. "Our alliance will enable us to better serve our customers worldwide. Customers in Japan and the Asia Pacific region can look forward to a wider range of products and a more extensive network. Kobelco will also have access to state-of-the-art manufacturing plants in Europe."

Through the agreement, CNH has acquired a 10% interest in Kobelco Construction Machinery in Japan and a 65% interest in Kobelco America. Likewise, Kobelco has acquired 100% of CNH?s construction equipment operations in Australia, Asia and China, becoming an exclusive distributor of the Case and New Holland brands of construction equipment in the region.

In Europe, crawler excavators will be sold under both the Fiat-Kobelco and Kobelco brands. Sumitomo Construction Machinery will continue to supply crawler excavators to the Case Construction network and brand and to the Link-Belt network and brand in the Americas.

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