Increased presence in France
The acquisition, which came into effect on 1 April 2023, included two Cobemat subsidiaries, Cobeloc and MTS. Cobeloc will be renamed Hitachi Construction Machinery Rent France (HCRF) and all activities of MTS will be integrated into the HCMF business cycle.
As announced in February, HCMF now operates as a wholly owned subsidiary of HCME, from six locations in north-west France, including the headquarters in Rennes. It will continue under the leadership of Managing Director David Rodier, while MTS activities will continue to be led by Mr. Chastel. The Managing Director of HCRF is yet to be appointed. To support and strengthen the organisations further, leadership positions will be appointed from both Hitachi Construction Machinery Co., Ltd. (HCM) and HCME to the new HCMF board of management.
With the acquisition and subsequent rebranding, HCME aims to expand its sales and rental network in France, increase the presence of the Hitachi Construction Machinery brand, and capitalise on sales, service and rental equipment opportunities in the third largest market in Europe.
“We believe that these changes will only extend and strengthen our position and activities in the French market,” says HCME President Takaharu Ikeda. “We look forward to expanding our existing customer base and service capabilities, with a strong focus on our rental and used equipment programmes.”
Hitachi Construction Machinery Co., Ltd. (TSE: 6305), headquartered in Tokyo, Japan, is a construction machinery manufacturer. The company engages in the development, manufacturing, sales, and service operations around the world for hydraulic excavators, wheel loaders, road construction machines, and mining machinery. Hitachi Construction Machinery is strengthening its focus on value chain businesses other than new machinery sales, such as parts and services, rentals, used equipment, and parts recycling, and is utilizing digital technologies to provide deeper solutions at all points of contact with customers. Hitachi Construction Machinery employs approximately 25,000 people worldwide. In fiscal year 2022 (ended March 2023), the consolidated sales revenue was ¥1,279,468 million (an increase of 24.8% year on year), and the percentage of overseas revenue was approximately 79%. For more details, visit the company’s website (20230426-HCM-Financial-E.pdf (hitachicm.com).