Hitachi secure remaining shareholding in HM Plant

HITACHI Construction Machinery Ltd (HCM) have announced the acquisition of the remaining management shareholding in HM Plant, their UK and Ireland distributor. The deal, which was concluded on 26 April, increases Hitachi’s original investment from the 30% acquired in February 2003 to 100%.

In recent years, successful restructuring of HM Plant’s distribution network, which has involved a £5 million relocation to new purpose-built premises on Tyneside, has helped improve machine preparation efficiencies and will allow the company to supply more than 5,000 machines a year by 2010. The move has also substantially reduced the logistical costs of importing machines from the Hitachi Construction Machinery (Europe) NV (HCME) factory in Amsterdam.

Commenting on the deal, Mitsuhiro Tabei, president and managing director of HCME, said: ‘HCM and HCME are delighted to have secured the remaining shareholding in HM Plant. The original 30% investment helped to secure the long-term future of HM Plant and HCME, however the latest investment will further strengthen our position within this highly competitive market.’

HM Plant chairman and chief executive officer John Jones is to continue in his current role.