Russian Machines Corp. and
AGCO Corp. have completed a joint
venture deal signifying the start of AG-CO-RM operations for the production of
agricultural equipment. The JV started
in March 2013 when the pair signed an
agreement to establish mutually owned
Russian manufacturing and distribution
businesses. Since then, the partners
worked together on a contract basis
for assembly operations at a factory in
Golitsyno, outside Moscow.
Assembly of Challenger- and Massey
Ferguson-branded tractors and harvesters is underway, followed by the distribution of assembled Fendt- and Valtra-branded products. The joint venture will
also begin assembling the Massey Ferguson 7347 and 7370 combine harvesters and Massey Ferguson 7000 and
8000 series tractors.
Following its 2013 reentry into the
United States market, Kobelco Construction Machinery Co. Ltd. said it
would build a hydraulic excavator factory in South Carolina. The facility will
be in Spartanburg County, with site
preparation starting in April and production of a 20 ton model planned beginning in January 2016. The site will cover
approximately 85 acres. The annual
production capacity will be 1800 units.
The Carlyle Group, the Washington,
D.C.-based private equity manage-
ment firm, announced it has acquired
Axle Tech International, a manufactur-
er of off-highway and specialty-vehicle
drivetrain systems, from General Dy-
namics Corp. Terms of the transaction,
which closed Jan. 5, were not disclosed.
Carlyle owned Axle Tech, which is head-
quartered in Troy, Mich., from 2005 to
2008. Mary Petrovich, who was CEO
of Axle Tech from 2002 to 2011, will re-
join the firm as executive chairman. Joe
Mejaly, who joined the business in May
2014 as general manager, will become
CEO under Carlyle’s ownership.
Polaris Industries Inc. announced
it has acquired the electric motorcycle
business of Brammo Inc., a move
that is expected to enhance its electric
powertrain capabilities. Financial terms
were not disclosed. The acquisition,
with Polaris acting as a leading investor
in a recapitalization of Brammo, enables
the company to focus exclusively on the
design, development and integration of
electric-vehicle powertrains. Polaris has
been a strategic investor and partner
with Brammo since 2011.
Stanadyne Corp. of Windsor, Conn.,
has announced a five-year agreement
to become the rotary fuel pump sup-
plier for Chinese engine manufacturer
Guangxi Yuchai Machinery’s off-high-
way products. Yuchai and Stanadyne
became global partners in 2007, and
the new agreement is their largest col-
laboration to date, the company said.
HydraForce Hydraulics has started
construction on its new 120,000 sq.ft.
manufacturing facility, which is being
built on a 6. 7 acre site in Birmingham,
England. The new site will employ 500
people. The company said it expects to
complete the move from its current Bir-
mingham site to the new facility in August.
Navistar International Corp. will
close its foundry operations in India-
napolis, Ind., where it produces engine
blocks and heads for its proprietary
engines. Navistar said it would source
these components from the company’s
supply base. This transition will oc-
cur during the first half of 2015, and
the company expects to complete the
foundry closure in the summer.
Blachford Acoustics Group has
acquired TMAT Ltd., a manufacturer of
acoustic components for industrial and
agricultural vehicles in the United King-
dom. Terms were not disclosed. TMAT
will continue to manufacture its products
and solutions at its Chesterfield, Eng-
land, headquarters, but will now have
access to the group’s R&D laboratory
and testing facilities. The company will
also retain its brand and identity.
Polaris Industries Inc. has announc-
ed plans to build a new production facil-
ity on a 453 acre site in Huntsville, Ala.
The 600,000 sq.ft. facility will focus on off-
road vehicle production. At full capacity,
the site will employ at least 1700 people,
the company said. Polaris plans to break
ground on the Huntsville facility in the first
quarter of 2015, with completion slated for
early in the second quarter of 2016.
Kraft Power has been named the
Scania marine distributor for Florida,
Georgia, Bermuda and the Bahamas.
Kraft will represent Scania’s 9, 13 and 16
L engines used for propulsion and auxiliary applications. Kraft Power is also a
distributor for Scania industrial engines
in Georgia, Tennessee, Alabama, South
Carolina and Florida. Scania’s network
in North America now consists of 12 distributors and over 340 service points. dp
BUSINESS NEWS, TURN TO
DIESEL PROGRESS ONLINE.
AGCO’s Russian JV Starts Production …
Kobelco To Build Excavators In South
Carolina … AxleTech Reacquired …
Stanadyne Inks China Deal …
GLOBAL BUSINESS NOTES
56 DIESEL PROGRESS NORTH AMERICAN EDITION February 2015