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Case Corp. of Racine and Sumitomo Construction Machinery Co. of Tokyo signed a letter of intent to form a global alliance to market and manufacture hydraulic crawler excavators. Case said it will also acquire a 50 percent interest in Sumitomo’s Link-Belt unit, a manufacturer and marketer of excavators and cranes. Terms were withheld. The Link-Belt operations will become part of a North American joint venture between the two companies that will market Sumitomo-designed excavators.
