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To: BubbaFred who wrote (49003)	4/24/2004 1:01:12 PM
From: BubbaFred	Respond to of 74559

Hitachi to launch crane production in China TOKYO - Hitachi Sumitomo Heavy Industries Construction Crane Co plans to start building cranes in China in August. The company, created through a merger between the crane operations of Hitachi Construction Machinery Co and Sumitomo Heavy Industries Ltd, aims to set up production in Anhui province at the site of Hitachi Construction's Chinese production unit, Hefei Hitachi Excavators Co. Hitachi Sumitomo Crane hopes to keep initial investment at 100 million yen (US$913,000) or less by utilizing existing facilities and equipment at the Chinese subsidiary. The Chinese production arm will start out with just one model of a wheel crane offering a 30-ton lifting capacity. This year, the firm hopes to sell 10 units of the crane, priced at slightly less than 30 million yen, and 20 units a year from 2005. The company established a wholly owned sales subsidiary in Shanghai on March 29 to handle sales of the crane. The sales company is expected to tap replacement demand from clients that bought roughly 300 cranes from Sumitomo Heavy Industries, in addition to developing new customers. In the future, the company will consider making cranes with 50- and 80-ton capacities, as well as caterpillar cranes.