Joint venture extension expands excavator product line.
Diggers and Dozers is reporting that CNH Industrial N.V. has agreed to enter into a new licensing agreement with Sumitomo (S.H.I.) Construction Machinery Co. Ltd., a wholly owned subsidiary of Sumitomo Heavy Industries, Ltd.
Under this new technology license and component supply agreement, CNH Industrial will manufacture Sumitomo designed crawler excavators (models ranging from 13 to 35 tonnes) at designated plants within its manufacturing network. Start of production of the new localized models is planned for mid-2016.
This agreement also extends the existing Global Product Supply (OEM) agreement between CNH Industrial and Sumitomo (S.H.I.) Construction Machinery for the sourcing of excavators from Sumitomo plants.
Sumitomo has been a supplier to the CNH Industrial global distribution network since 1992 for models ranging from 7 to 80 tonnes. This next step will further strengthen the partnership between the two companies.
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