Nissan, Hitachi Construction to merge forklift ops

Newswire

TOKYO, Nov 29 (Reuters) - Nissan Motor Co and Hitachi Construction Machinery Co said on Tuesday the two plan to merge their forklift businesses in the spring of next year, to gain scale to capture market share as the global market grows. The government-backed Innovation Network Corp of Japan will invest 30 billion yen ($384 million) to take a majority stake in the new forklift firm, the two said in a statement. ($1 = 78.12 Japanese yen) (Reporting by Mayumi Negishi; Editing by Edwina Gibbs)

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