Hitachi and Nissan to merge forklift businesses
Japanese investor company INCJ to oversee new operation
Two of the biggest Japan’s biggest manufacturers Nissan and Hitachi are to merge their forklift businesses to target emerging markets.
The new company UniCarriers Corporation will be overseen by third partner Innovation Network Corporation of Japan. The three companies are currently finalising the agreement but are planning to officially launch the company by spring 2012 with former president of Uniden Corporation, Satoru Omori, will be appointed as its new CEO
While the materials handling sector is highly competitive, UniCarriers will pursue market share in the emerging markets of ASEAN region and other territories where there is not a single dominant player.
The existing operations of Nissan and Hitachi will be gradually restructured. INCJ is reportedly pumping $400 million into UniCarriers to scaled up the combined operations. The initial MoU binds both Hitachi Construction Machinery and Nissan sharing technological and business know-how.