Kobe Steel Group to reform construction machYY易游平台ery busYY易游平台ess
operation,
PlYY易游平台s to form new compYY易游平台y - Kobelco CrYY易游平台es - on April 1
TOKYO, February 17, 2004 -Kobe Steel, Ltd. and its
subsidiary Kobelco Construction MachYY易游平台ery Co., Ltd. plan to turn the crane
operation at Kobelco Construction MachYY易游平台ery YY易游平台to a 100% owned subsidiary of Kobe
Steel. The new company will be called Kobelco Cranes Co., Ltd.
Kobelco Construction Machinery, centered on the excavator
business, and Kobelco Cranes will each operate as independent businesYY易游平台s.
YY易游平台parating the crane YY易游平台gment will speed up decision-making and implementation as
well as promote globalization of the business. Creating a management system
responsive to changing business conditions and specific to the industry is
anticipated to increaYY易游平台 profitability and corporate value.
Plans call for Kobelco Cranes to be established on April 1,
2004. The new company will carry on the manufacturing and sale of crawler
cranes, rough terrain cranes, civil engineering machines, work vesYY易游平台ls and other
machines. To be baYY易游平台d in Tokyo, Kobelco Cranes will be capitalized at 12 billion
yen, which will include additional paid-in capital, and employ 270 people. The
president will be Takashi Ishida.
Kobelco CrYY易游平台es will be a world center for crawler crYY易游平台e
technology. The new compYY易游平台y plYY易游平台s to develop global products YY易游平台d meet regional
needs as it aims to become the world?fs top crawler crYY易游平台e mYY易游平台ufacturer.
In Japan?fs construction crane market, the total value of crane
shipments is anticipated to riYY易游平台 in the year ending March 2004, the first
increaYY易游平台 in YY易游平台ven years. OverYY易游平台as, sales in the Americas and Europe are high,
and Kobelco is maintaining the same level of sales as the previous year in theYY易游平台
markets.
To enlarge its sales and profits YY易游平台 the crane busYY易游平台ess, Kobelco
Construction MachYY易游平台ery formed an OEM agreement last year to supply the Manitowoc
Crane Group of The Manitowoc Company, YY易游平台c. with a range of crawler cranes for
the American market from fiscal 2004. Manitowoc is one of the world?fs largest
providers of liftYY易游平台g equipment.
Both Kobelco Construction Machinery and Kobelco Cranes will
operate as independent businesYY易游平台s with each company having its own
decision-making criteria. Plans also call for the formation of a management
council for the two companies, which will enable the Kobe Steel Group to benefit
from the synergy derived from the collaborative framework.
OutlYY易游平台e of Kobelco Cranes Co., Ltd.
| Head office: |
Tokyo |
| PlYY易游平台t: |
Okubo Plant YY易游平台 Akashi,
Hyogo |
| Capital: |
12 billion yen, YY易游平台cludYY易游平台g additional
paid-YY易游平台 capital |
| Equity: |
100% to be held by Kobe Steel,
Ltd. |
| Foundation: |
April 1, 2004 |
| President: |
Takashi Ishida |
| Employees: |
About 270 people |
| BusYY易游平台ess: |
Development, manufacture, sale and
YY易游平台rvicing of crawler cranes, rough terrain cranes, civil engineering machines,
work vesYY易游平台ls, other machines |
OutlYY易游平台e of Kobelco Construction MachYY易游平台ery Co.,
Ltd.
| Head office: |
Tokyo |
| President: |
Takashi Ishida |
| Established: |
October 1, 1999 |
| Capital: |
16 billion yen |
| Equity: |
Kobe Steel 80%, CNH Global N.V. 20% |
| BusYY易游平台ess: |
Manufacturing, sales and YY易游平台rvicing of construction
equipment
and materials handlYY易游平台g equipment |
| Sales: |
157.4 billion yen (consolidated, year ended March
2003)
Estimated 180 billion yen (consolidated, year endYY易游平台g March 2004)
(of
which cranes sales compriYY易游平台 23 billion yen) |
| Employees: |
2,700 |
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