Kobelco agrees to take 70% stake in CNH Industrial's construction equipment business

Kobelco Construction Machinery Co., Ltd. announced on 9 November 2026 that it has agreed to acquire the construction equipment business of CNH Industrial N.V. and its affiliates, taking a 70% stake in a new holding company.

The two companies have signed a share purchase agreement, Kobelco said. CNH is expected to transfer the business, which Kobelco calls the CNH CE Business, into a company it has already set up, referred to as NewCo, and Kobelco Construction Machinery is then expected to buy 70% of NewCo's shares.

Once the deal completes, NewCo will become part of the Kobelco Construction Machinery Group and CNH will remain involved as a minority shareholder, according to the announcement.

Completion depends on regulatory clearances under applicable competition laws and other customary closing conditions. Kobelco gave no completion date.

The brands involved

The CNH CE Business operates the CASE Construction Equipment and New Holland Construction brands globally, together with Eurocomach, which sells compact construction equipment in Europe, Kobelco said. The business has sales and service networks across North America, Europe, Latin America and other regions, with a product range running from small and medium machines to large equipment for infrastructure and public works.

Kobelco's announcement lists CNH Industrial N.V.'s location as Basildon, Essex, United Kingdom, established on 23 November 2012, and gives its principal activities as the manufacture and sale of agricultural and construction equipment and related financial services. The transaction covers only the construction equipment side.

Kobe Steel, Ltd., Kobelco Construction Machinery's parent, issued a separate notice on the same day concerning the acquisition of shares to make subsidiaries in connection with the deal.

What Kobelco says it wants from the deal

Kobelco said the CNH business's established presence in North America and Latin America would help it reach more customers and build a more geographically balanced business.

On technology, Kobelco said it intends to combine CNH's global navigation satellite system (GNSS) technologies and other capabilities with its own digital construction solutions, including its K-DIVE system, to broaden its range of solutions for jobsite challenges. It also said a larger installed base would allow it to expand parts and aftermarket services.

For existing customers, Kobelco said the transaction does not currently change its aftermarket services, replacement parts supply, warranties or points of contact for product enquiries. Its procurement policies, terms of business and business processes are also unchanged, and it will notify affected customers and business partners if that alters as the deal progresses.

Earlier alliance

The agreement reunites two groups with a shared history. Kobelco Construction Machinery's corporate history records a global alliance with CNH Global of the Fiat Group concluded in 2001, which it says was cancelled in 2012. CNH's own archived release records the alliance as finalised in January 2002, when CNH acquired a 10% interest in Kobelco Construction Machinery in Japan, with plans to lift it to 20% later that year.

Kobelco's history also records that Kobelco Construction Machinery Europe B.V. was established in 2013 as a sales and service company in the Netherlands. The European arm, which is wholly owned by the Japanese parent, is headquartered in Lelystad and marked the official opening of its new European headquarters and tech centre there on 28 January 2026.

In the UK, Kobelco machines are supplied through dealer Molson Equipment. Kobelco Europe recently reported Ovenden Earthmoving using KOBELCO SK520LC-11E excavators on a marine infrastructure project on the Fylde coastline.

What happens next

Kobelco said further information on products and services arising from the collaboration, including availability by region and launch timing, will be announced as plans are finalised. The deal remains subject to competition clearances before completion.