Case Construction Equipment today 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. (â€śSumitomoâ€ť).Â As a result of this transaction, LBX is now wholly owned by Sumitomo.
â€śThe 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,â€ť said Jim McCullough, CEO and President of CNH Construction.Â â€śThis 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.
â€ťThe existing global supply alliance between SCM and CNH Global will remain intact.