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TOKYO, April 2 Asia Pulse - Hitachi Construction Machinery Co. (TSE: 6305) announced Friday it expects to fall into the red for the year ending March, for the first time in seven years, pulled down by overseas operations.
The leading manufacturer of hydraulic shovels projects a consolidated net loss of 3.8 billion yen (US$30.08 million), down from its earlier forecast of a 1.5 billion yen profit.
Hitachi Construction has decided to end a partnership with Fiat SpA in the European market, and will sell its entire 36 per cent share in their Italian joint venture, Fiat-Hitachi Excavators SpA, to ...