February 23 - Kobe Steel will merge the businesses of Kobelco Construction Machinery and Kobelco Cranes together with effect from April 1, 2016.
In 2004, Kobe Steel Group launched Kobelco Cranes as a spin-off of Kobelco Construction Machinery, and since then the two companies have operated separately in their respective fields.
The group says that it has decided to merge the two companies again since it considers it necessary to strengthen its business foundation and accelerate global development in relation to the construction equipment business.
The merger is expected to improve business efficiency, strengthen product development capabilities and bolster global development, as well as enabling Kobe Steel to pursue new possibilities from the accumulated technologies of its excavators and cranes.
Kobelco says that discussions will continue with regard to the consolidation of domestic and overseas locations.