Hidromek Buying Mitsubishi’s Motor Grader Business
Mitsubishi Heavy Industries, Ltd. (MHI) has announced an agreement with the Turkish construction equipment manufacturer Hidromek, Ankara, Turkey. Under the agreement, Hidromek will purchase MHI’s motor graders operations, including MHI's related technologies, design expertise and servicing operations as well as ownership of MHI-Pornchai Machinery Co., Ltd., a production base in Thailand. MHI-Pornchai, until now, has manufactured MHI's products for markets in the Middle East and Southeast Asia.
In transferring the Thai production base to Hidromek, MHI will transfer all shares to Hidromek. After the transfer of operations, MHI will for a given period of time provide technical support and motor grader parts to Hidromek. Together with Hidromek, MHI will also, for a specified period, offer after-sale servicing support for both its domestic and overseas customers.
Hidromek has four local production bases and a global network of sales agents in 35 nations. Net sales in 2012 equated to approximately US$342 million. The company has about 1400 employees.
MHI transferred its hydraulic shovels and other types of construction machinery to Caterpillar Inc. during the first quarter of 2012. Its decision to transfer its motor grader operations to Hidromek at this time is based on the company's quest to further advance concentration into its core competencies, MHI said.