Kyokuto Kaihatsu Kogyo completed the acquisition of Satrac Engineering for $30m.

Kyokuto Kaihatsu Kogyo, a construction equipment manufacturer, completed the acquisition of Satrac Engineering, a manufacturer of special-purpose vehicles such as truck tipper bodies, trailers, and tank trucks, for $30m. “The Indian special-purpose vehicle market has been temporarily stagnant due to last year’s increased axle norms and tightening of financing by financial institutions and the impact of the Covid19 disaster. However, in the medium to long term, demand for construction and logistics vehicles is expected to expand due to the promotion of large-scale infrastructure projects and growth in logistics and steel and cement industry,” Tatsuya Nunohara, Kyokuto President.