Gleiss Lutz advises Hitachi Construction Machinery on joint venture with German distributor
Gleiss Lutz has been advising Hitachi Construction Machinery, a subsidiary of Japan’s Hitachi Ltd. and listed on the Tokyo Stock Exchange, on forming a joint venture with its German distributor, the Kiesel Group. The transaction is subject to approvals under antitrust law.
The aim of the company to be formed, EAC European Application Center GmbH, will be to develop special electrical applications for construction machinery on the European market. The Kiesel Group possesses extensive know-how on developing and commercializing electrical construction machinery. The new undertaking will bring together the experience and expertise of Hitachi Construction and the Kiesel Group to meet European requirements on climate protection and reducing CO2, as well as the needs of European customers resulting from this.
With its registered office in Tokyo, Japan, Hitachi Construction Machinery is a company with international operations and around 20,000 employees worldwide. In the 2017 financial year, its consolidated revenues were 959 billion Yen.
With over 900 employees, the Kiesel Group is a wholesaler for construction machinery and material handlers, and the exclusive partner of Hitachi and other companies. EAC European Application Center GmbH is being established as the subsidiary of the Kiesel Group subsidiary KTEG Kiesel Technologie Entwicklung GmbH, founded in 2011. KTEG Kiesel Technologie Entwicklung GmbH develops innovative all-in-one solutions to improve output and efficiency in operational processes.
Hitachi was advised on the transaction by the following team of Gleiss Lutz lawyers, headed by Dr. Michael Burian (partner, lead) and Dr. Maike Sauter: Dr. Martin Lembke (counsel), Dr. Christopher Vogl, Anselm Christiansen (all Corporate/M&A, Stuttgart), Dr. Petra Linsmeier (partner), Dr. Iris Benedikt-Buckenleib (counsel), Tobias Klemm (all Competition/Antitrust, Munich), Dr. Alexander Molle (counsel), Dr. Hannah Bug (both IP/IT, Berlin), Dr. Johann Wagner (partner), Dr. Thomas Bücheler (both tax, Hamburg).
Gleiss Lutz has a leading Japan practice which frequently advises Japanese companies on transactions in Germany. Gleiss Lutz recently advised Mitsubishi Heavy Industries Thermal Systems, for example, on a joint venture with the Heifo Group, and the Japanese chemicals and pharmaceutical group Daicel Corporation on acquiring the Lomapharm Group.