Page 60 • May 24, 2017 • www.constructionequipmentguide.com • CONSTRUCTION EQUIPMENT GUIDE
Hitachi Ltd. Agrees to Acquire Accudyne Hitachi Ltd. and Accudyne Industries announced that the two companies have entered into an agreement regarding Hitachi’s acquisition of Accudyne’s subsidiaries and certain related assets that manufacture and sell air compressors under the “Sullair” brand. In order to become the “Innovation Partner for the IoT Era” by accelerating collaborative creation with customers through the advanced Social Innovation Business, Hitachi has introduced a market-in business structure composed of “front”, “platform”, and “products” in April 2016. Hitachi’s “front” business has strived to work side by side with its customers to create new value through the rapid and effective utilization of its Social Innovation Business by leveraging digital technology, with the “Lumada” IoT platform at its core. Hitachi’s goal in this acquisition is to gain access to Sullair’s global sales network, mainly in North America. Furthermore, Hitachi will accelerate the global rollout of the Social Innovation Business, by providing Sullair’s customer base with digital solutions or IoT-compatible products that leverage the expertise in IT and OT (operational technology) which Hitachi has cultivated over many years. As for the product business, in an effort to establish a strong product business that meets a broad range of industrial needs, Hitachi has been developing the product business through the unified strengths of the Industrial Products Business Unit (CEO: Masakazu Aoki), which integrated Hitachi’s industrial product business in May 2015, and Hitachi Industrial Equipment Systems Co. Ltd., which handles small or medium sized industrial products. Air compressors in particular have been positioned as a core business, in which Hitachi provides high-quality, high-efficiency products mainly in Japan and Asia. Hitachi plans to add its products to Sullair’s highly complementary product lineup, and
utilize the global sales network Sullair has established, mainly in North America, and increase the scale of the air compressor business. Since its foundation in 1965, Sullair has been selling its air compressor products on a global scale. Sullair has established a strong sales network and customer base especially in North America. Accudyne has selected Hitachi as the best partner to ensure long-term success of Sullair given its sales network in Japan and Asia as well as the complementary relationship. Masakazu Aoki, executive vice president at Hitachi and CEO of the Industrial Products Business Unit, said: “I am very pleased to announce that Hitachi has today agreed with Accudyne to proceed with the acquisition of Sullair, a leader in the air compressor business. Through this fusion with Sullair’s strengths, Hitachi will increase its competitiveness and strengthen the air compressor business, and at the same time, by utilizing Sullair’s global footprint, mainly in North America, we will accelerate the global rollout of the Social Innovation Business.” Charles Treadway, CEO of Accudyne, said, “We are very pleased with the transaction, as the combination represents a uniquely attractive opportunity for Sullair, its employees, distributor partners and end-customers.” Jack Carlson, Sullair president, said, “We are thrilled by the prospect of partnering with Hitachi to grow Sullair as we embark together on the next chapter in our proud history.” The agreed purchase price of Sullair is $1.245 billion. It is subject to certain customary adjustments at effective date of the transaction (for example, for fluctuations in Sullair’s net working capital and net debt).
(This story also can be found on Construction Equipment Guide’s website at www.constructionequipmentguide.com.)
PSC Examines DAP Tree Removal Dispute By Blake Nicholson ASSOCIATED PRESS
BISMARCK, N.D. (AP) North Dakota regulators who want to fine the developer of the Dakota Access oil pipeline over the reporting of Native American artifacts during construction are now looking into whether the company removed too many trees while laying pipe in the state. The Public Service Commission planned to discuss both matters during a closed executive session on May 5, with resolutions to both issues possible by the group’s next public meeting on May 10, Chairwoman Julie Fedorchak said. The $3.8 billion pipeline to move North Dakota oil to a distribution point in Illinois has been controversial because of opposition by American Indian tribes and environmental groups who fear environmental harm. Construction is complete, however, and the pipeline should be fully operating by June 1, said Vicki Granado,
spokeswoman of the Texas-based developer, Energy Transfer Partners. Mop-up work remains, such as tree restoration. A December report from third-party inspector Keitu Engineers and Consultants Inc. identified 83 sites along the 380-mi. pipeline corridor in North Dakota where trees might have been cleared in violation of the commission’s orders. The report by analyst Dean Mostad doesn’t estimate the number of trees involved. Granado insisted to The Associated Press that ETP didn’t violate terms of its permit. Mike Futch, ETP’s pipeline project manager in North Dakota, said in a letter to commission attorney John Schuh in March that it’s possible the company cleared the disputed areas of trees before the company and commission agreed in June 2016 how large an area could be cleared. The company submitted its tree replacement plan in April. That plan calls for two trees to be planted for every one that was removed
— a total of about 94,000 trees — and for the company to inspect them annually for three years to monitor survival rates. The PSC must approve the plan. A law firm representing numerous landowners filed a consultant’s report that contends ETP’s tree replacement plan includes far fewer species than were removed and that a “flawed approach’’ to soil work could result in trees “being planted and growing well for five or ten years, then dying.’’ Fedorchak said ETP could be fined for any violation of the Public Service Commission’s tree removal orders. The commission already has proposed a fine of at least $15,000 after the company diverted construction of the pipeline around artifacts last October without first running the plan by regulators. No artifacts were disturbed. ETP maintains it didn’t intentionally violate state rules and has asked for that case to be dismissed.
(This story also can be found on Construction Equipment Guide’s website at www.constructionequipmentguide.com.)
COWIN EQUIPMENT COMPANY, INC. www.cowin.com Montgomery, AL • 800-239-6642 Madison, AL • 256-350-0006 Huntsville, AL • 800-239-7368 Oxford, AL • 800-917-7931 Pensacola, FL • 800-239-4736 Atlanta, GA • 800-849-3540
CLM EQUIPMENT CO., INC. www.clmequipment.com Lafayette, LA • 337-837-6693 Lake Charles, LA • 337-625-5942 Baton Rouge, LA • 255-677-7838 Houston, TX • 281-598-2500
GSE GREAT SOUTHERN EQUIPMENT COMPANY www.gsequipment.com Tampa, FL • 866-586-8956 Pompano Beach, FL • 954-327-8808 Ft. Myers, FL • 239-334-6063 Tallahassee, FL • 850-574-0892 Orlando, FL • 407-859-9160 Jacksonville, FL • 904-268-4400
LINK-BELT MID ATLANTIC www.link-beltmidatlantic.com Ashland, VA • 866-955-6071 Chesapeake, VA • 800-342-3248