REGION REPORT | ASIA
ASIA BUSINESS REVIEW
Over the upcoming years, APAC countries are forecasted to offer major opportunities for crane operators, particularly with the construction sector in Indonesia expected to record over 7.2% growth in 2022 surpassing pre-pandemic output levels, according to GlobalData. Jenny Eagle takes a look at the latest news in this region.
completed in the second half of this year. The deal is expected to allow the two companies to better serve customers; with additional investment in products, people, and facilities; a broader portfolio of products across a global landscape and increased levels of service, support, and training worldwide. “This is an extraordinary opportunity
T
to bring together two companies with differentiated, industry-leading capabilities, to create exceptional value for all stakeholders: team members, channel partners, end users, and communities. We have long respected Kito Corporation as they exemplify our core values of safety, reliability, and innovation and are thrilled
he Crosby Group and Kito Corporation has entered into a definitive agreement to combine both businesses, expected to be
to combine with them to provide best-in- class products, solutions, and services for customers worldwide,” said Robert Desel, CEO, The Crosby Group. “The strategic wisdom and industrial
logic of this combination are compelling. It will pair the highly complementary product portfolios of The Crosby Group and Kito Corporation and allow customers access to a broad selection of lifting and material handling solutions from one trusted manufacturer. Together, the companies will be able to accelerate innovation through increased investment in new product development and enable end users to achieve higher levels of efficiency and safety through better technical, application, and training support from a combined business,” he added.
P Robert Desel, CEO, The Crosby Group. Yoshio Kito, CEO, Kito Corporation
believes combining the two companies ‘delivers tremendous value for all stakeholders’. “We couldn’t have imagined a better partner and we are confident that this combined business will build upon its great brands to best serve our customers, team members, and communities. We will work together to develop and expand our product offerings, differentiate ourselves
R Crosby’s Longview facility in Texas.
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