Reuters are reporting that truck manufacturer CNH Industrial has signed a 10-year partnership with South Korea's shipbuilder Hyundai Heavy Industries to develop mini-excavators, completing the expansion of its excavator product portfolio.
Under the agreement - which applies globally with the exception of South Korea and could be renewed for a further three years - Hyundai Heavy Industries will grant manufacturing licensing and component and spare parts supply to CNH.
"Once fully realised, the mini-excavator product offering will include 14 models ranging from one ton to six tons," CNH announced.
Asia Cement Corp is planning to increase its market share in the Chinese cities of Wuhan, Nanchang, Jiujiang, Chengdu and Yangzhou to over 30% through mergers and acquisitions.