Case Construction Equipment announced the sale of its interest in LBX Company LLC to S.C.M. (America), Inc., an affiliate of Sumitomo (S.H.I.) Construction Machinery Co., LTD. (“Sumitomo”). As a result of this transaction, LBX is now wholly owned by Sumitomo.
“The decision to sell our interest in LBX is a continuation of the strategy we began in 2009 to consolidate back office brand management and streamline our industrial footprint,” said Jim McCullough, CEO and president of CNH Construction. “This allows CNH to concentrate efforts on our key construction brands and strengthen the foundation for our brands continued growth as we continue to take advantage of market opportunities.”
The existing global supply alliance between SCM and CNH Global will remain intact.