# Hitachi Transport System to acquire 70% stake in Palenet from Hitachi Automotive Systems

Hitachi Transport System and Hitachi Automotive Systems announced a stock transfer agreement for Hitachi Transport System to acquire 70% of the outstanding shares of Palenet, a pallet rental and cargo handling equipment company. The deal aims to strengthen Hitachi Transport System's logistics platform.

- Type: Acquisition
- Announced: 2019-06-27
- Where: Japan
- Status: announced
- Products: pallets, cargo handling equipment
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Hitachi Automotive Systems](https://endata.com/companies/5033.md) (target)
- [Hitachi Transport System](https://endata.com/companies/34814.md) (acquirer)
- [Palnet](https://endata.com/companies/40303.md) (target)

## Sources

- [en.lnews.jp](https://en.lnews.jp/2019/06/l0627311.html), 2019-06-27: "The Hitachi Transport System Group will acquire shares as part of its efforts to seize new growth opportunities, which is a key initiative in its medium-term management plan."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.