Sumitomo (S.H.I.) Construction Machinery Co. LTD (SCM), a leading manufacturer of hydraulic crawler excavators headquartered in Tokyo, Japan, announced today that, as of April 30th, 2010 it has acquired full ownership of LBX Company LLC (LBX) headquartered in Lexington, KY.

SCM and LBX have a long-standing business relationship. For decades, SCM manufactured excavators for the excavator division of Link-Belt Construction Equipment Company (LBCE), which was an affiliate company of SCM. Then, in 1998, the excavator division of LBCE was separated and formed into LBX as a Joint Venture as part of a global alliance between SCM and Case Corporation (currently CNH. America LLC),.

Since its formation, LBX has been marketing and selling SCM excavators, forestry, material handling and demolition products throughout the Western Hemisphere under the Link-Belt® excavator brand name, and will continue to do so under the new ownership. The existing global supply alliance between SCM and CNH Global will remain intact.

“This shift in ownership was arrived at mutually among SCM and CNH Global,” states Kensuke Shimizu, President of Sumitomo (S.H.I.) Construction Machinery Co., LTD. “It will allow each company to focus independently on achieving their corporate objectives and long-term global growth strategies.”

SUMITOMO ( S.H.I.) CONSTRUCTION MACHINERY CO., LTD.