Kobelco Europe GmbH (KEU) has been established in Munich, Germany. The business has grown out of an existing company, Kobelco Machinery Europe GmbH (KME), which was established in 2012 as a base for Kobe Steel’s Machinery Business in Europe, mainly the marketing of nonstandard compressors and tire and rubber machinery.
According to Japanese parent Kobe Steel Group, headquartered in Toyko, KEU plans to continue the business activities of KME, while strengthening the management of Kobe Steel’s European operations, starting with corporate governance and compliance. KEU aims to further promote co-ordination among the Kobe Steel Group companies in the region. KEU will also be responsible for the Group’s locations in the Middle East.
The Kobe Steel Group began Europe expansion in the 1960s and now has 10 locations in five countries. In recent years, Kobe Steel has accelerated business development in the region. Subsidiary Kobelco Construction Machinery re-entered Europe after it ended its alliance in 2012 with the former CNH Global NV (currently CNH Industrial NV) and subsequently established a base in the Netherlands in 2013. Kobe Steel acquired Sweden’s Quintus Technologies AB, a leader in isostatic presses, in April 2017 and turned it into a wholly owned subsidiary.
The formation of KEU means that Kobe Steel Group has established headquarters in major regions where it conducts business. The regional headquarters will also support Group companies in their respective regions.