Sumitomo to Buy Demag

Last month, Sumitomo Heavy Industries, Ltd. (SHI) of Japan announced that it planned to acquire Demag Ergotech GmbH of Germany and Van Dorn Demag Corp. of Strongsville, Ohio, from MPM Holdings.

Last month, Sumitomo Heavy Industries, Ltd. (SHI) of Japan announced that it planned to acquire Demag Ergotech GmbH of Germany and Van Dorn Demag Corp. of Strongsville, Ohio, from MPM Holdings. SHI expected to complete the transaction by March 3.