By NZHJ December 14, 2015 Hand & Power Tools

Japan’s Hitachi Koki, with the aid of a French investment company, has for €8 million bought Dutch company Power Tool Invest which owns 80% of German-based Metabo Aktiengesellschaft.

While Hitachi is strong in the Japanese and US markets, a statement says that the move is aimed at expansion in the European market particularly, where the Metabo brand is strong.

The deal is also designed so each brand being can benefit from the other’s technological advantages and will equally address Hitachi Koki’s ongoing exchange rate issues between the Yen and the Euro.

Hitachi Koki’s forecast net income for the year ending 31 March 2016 is ¥4.9 billion, up from ¥3.5 billion.

Hitachi products in New Zealand come through Accent Tools and Metabo through Tooline in Christchurch.

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