The move comes as The Kobe Steel Group looks to further strengthen its business foundation and accelerate global development in relation to the construction equipment business.

This merger is expected to improve business efficiency, strengthen product development capabilities, and bolster global development. It will also enable Kobe Steel to pursue new possibilities derived from the accumulated technologies of its excavators and cranes. Considerations will continue with regard to the consolidation of domestic and overseas locations.

The new company aims to take a leap forward as a comprehensive construction machinery manufacturer that combines the two product menus of excavators and cranes