A second Japanese mining equipment maker is positioning itself for a recovery in commodities, after Hitachi Construction Machinery Co. followed its larger competitor Komatsu Ltd. in announcing what would be its biggest-ever acquisition.
Hitachi Construction, the world’s top maker of giant excavators, has offered A$689 million ($529 million) to buy Australian component maker Bradken Ltd. In July, Komatsu agreed to purchase U.S.-based rival Joy Global Inc. for a record $2.89 billion, signaling its optimism that demand for diggers and loaders will rebound after years of declining commodity prices.
