The Chinese construction equip- ment company Zoomlion said it is planning to move into the
agricultural market and also grow its
heavy-truck plans. For the ag sector, the
company said it is developing a product
research center near Chicago, Ill. Product details were light, but the company
said it will develop large machines for
northern China and then into southern
China for small-sized machines, executives said. “We will seek opportunities to
do this through collaboration and mergers and acquisitions,” a spokesman said.
“For heavy trucks we will collaborate with
the best companies in the world to develop them (heavy trucks) in China.”
Yanmar announced that it has acquired 6.26% of the capital and voting
rights of Manitou BF. The shares were
acquired from the French bank Société
Générale. This shareholding investment
comes as the two groups enhance their
strategic alliance, expanding cross distribution into Mexico and Latin America.
In January 2012, Manitou and Yanmar
announced the signing of a strategic alliance in North America. Manitou Americas
distributes Yanmar’s compact excavators under the Gehl and Mustang brand
names throughout North America, while
Yanmar America distributes skid-steers
and track loaders under its brand name.
Manitou and Yanmar said they will
seek other development opportunities
while working to reinforce their independent dealer networks.
Deere & Co. said it has agreed to
sell a majority interest in its John Deere
Landscapes business to the private eq-
uity investment firm of Clayton, Dubilier
& Rice LLC. The landscapes business
has been included in Deere’s agricul-
ture and turf segment. As a result of
the transaction, Deere will receive ap-
proximately $300 million in cash and
will initially retain a 40% equity interest.
Deere formed the landscapes business
in 2001 when it purchased and merged
two companies that sold wholesale
landscape supplies and irrigation prod-
ucts. Two other acquisitions were later
added. John Deere Landscapes has
more than 2000 employees at approxi-
mately 400 locations in 41 states.
Monico Monitoring Inc., Spring, Tex-
as, a manufacturer of industrial monitor-
ing and control solutions, has formed a
strategic alliance with CMR Group, Mar-
seille, France, a manufacturer of industri-
al engine controls, wiring harnesses and
electrical management systems. The an-
nouncement said the move will see the
companies working closer together on
both existing and new projects to devel-
op and grow business in core industrial
engine, generator set and gas compres-
sor markets around the world.
As part of a $30 million investment,
the Hagerstown, Md., plant that pro-
duces all Mack engines and transmis-
sions will begin assembling all Mack
heavy-duty drive axles and machining
all Mack carrier housings, the company
announced. In addition to bringing drive
axle operations to Hagerstown, the in-
vestment will also be used for upgrades
to the engine assembly process and
centralization of aftermarket core ware-
housing operations. Preparation for the
axle operations is underway, with full
implementation scheduled for 2015.
Phillips & Temro Industries (PTI),
Eden Prairie, Minn., announced that it
has acquired Arctic Fox from North River
Capital LLC, a private equity firm in Fort
Wayne, Ind. No financial details were
provided. The acquisition expands PTI’s
presence into fuel and hydraulic systems
and the oil & gas and powersports end
markets and provides a worldwide plat-
form for growth, PTI President and Chief
Executive Officer Butch Sumpter said.
Phillips and Temro Industries is a supplier of engineered heating products, systems and controls, as well as cooling and
Carlisle Co. said American Industrial
Partners of New York is buying its tire
division in a $375 million deal. American Industrial Partners is expected to
pay cash for the company’s transportation products segment, Carlisle said.
The deal still needs regulatory approval
and was expected to close by the end of
the year. Carlisle announced that it was
seeking a buyer for the segment in July.
Puradyn Filter Technologies
announced a three-year distribution agreement with the HongHua Group of China.
HongHua’s U.S.-based subsidiary HH-A
will have exclusive distribution of the puraDYN oil filtration system in China, Hong
Kong, Macau and Taiwan. dp
Zoomlion Eyes Ag, Truck Markets … Yanmar
BUSINESS NEWS, TURN TO
DIESEL PROGRESS ONLINE.
Buys Into Manitou … Deere Sells Landscapes
Biz … Monico/CMR In Controls Alliance …
Mack To Build Axles in Hagerstown …
GLOBAL BUSINESS NOTES
64 DIESEL PROGRESS NORTH AMERICAN EDITION December 2013