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Business

Hitachi lands US air compressor ops from Accudyne

Japanese group beefing up core segment through purchase

TOKYO -- Hitachi is purchasing a U.S. air compressor manufacturing unit from Luxembourg-based Accudyne Industries for $1.24 billion in a move designed to build upon a core business at the Japanese technology giant.

Accudyne, which makes industrial machinery, agreed Tuesday to sell all shares in Sullair US Purchaser in a deal expected to close this fiscal year. Sullair holds about 200 North American dealerships and does business with roughly 4,000 clients in the region. The Illinois-based company is also reportedly strong in the Chinese market. Sullair's forte is compressors for construction sites and mines.

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