Hitachi has joined forces with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) to develop technologies for mining equipment.
The two companies will collaborate on research and development projects in artificial intelligence (AI), security, material tracking, urban systems, Internet of Things (IoT) sensing, autonomous systems and more.
As reported in Nikkei Asian Review, Hitachi Construction Machinery has acquired two suppliers of parts and services for mining equipment with operations in the US and Australia, continuing its expansion into the support business amid sluggish demand in its mainstay machinery market.
Bradken has agreed to a takeover bid by Japan’s Hitachi Construction Machinery (HCM) in a deal analysts say may indicate the worst of the mining downturn has passed. Yuichi Tsujimoto, HCM President said his company believes Bradken’s “businesses are complementary with our mining equipment services business. Both companies leveraging each other’s global network will enable us to strengthen our combined businesses and enhance our earnings.” Continue reading “Hitachi Construction Machinery buying Bradken”
Hitachi Construction Machinery offers $529 million for Bradken
Hitachi Construction Machinery Co., the world’s biggest maker of giant excavators, has offered 689 million Australian dollars ($529 million) to buy Australia’s Bradken Ltd. The purchase would be its biggest ever and is likely to boost profit by about 10 percent, Nomura Securities Co. said.