Robbins and NHI Agree to a Three-Phase Merger Plan
An agreement between The Robbins Company and Northern Heavy Industries (NHI) Group was finalized on June 28, 2016 in Shenyang, capital of northeast China’s Liaoning Province.
This initial agreement is the first step of a three-phase merger process and gives NHI minority interest in The Robbins Company. In the next phase, anticipated to occur in July 2016, NHI will assume 61% ownership of The Robbins Company. Lok Home, President of The Robbins Company, will remain vested in the company and continue in his leadership role. In the final phase, The Robbins Company, NFM and NHI will be merged, combining their collective resources and expertise. It is anticipated that Lok Home will assume the role of President of the newly formed company. Operations of The Robbins Company are expected to remain the same.
“This merger puts Robbins in an excellent position to expand our presence in the global TBM market,” said Mr. Home. “It will enable us to provide better global service and support to our customers, and will open the door to new opportunities, especially in China. NHI has very impressive capabilities. Joining forces with them gives us expanded resources to go after more projects and strengthens our reputation as a world leader in the tunnel boring industry.”
“By laying out developing plans in Asia, America and Europe, and making a concerted effort together, we will strengthen our competitiveness in the market,” said Yang Tao, General Manager of the Tunneling Machine Company, a subsidiary of NHI.
Based in Shenyang, NHI employs 10,000 people and is among China’s top three heavy machinery manufacturers. Its products are sold to more than 30 countries worldwide. In 2007 NHI merged with NFM Technologies of France, making it a transnational company.