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JAPAN'S HITACHI CONSTRUCTION EXPECTS US$30 MLN FY2000 NET LOSS.

AsiaPulse News

| April 02, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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