Sumitomo Heavy Industries Ltd. (6302.TO) said Tuesday it has signed a pact to buy a 100% stake in Belgium-based industrial gearbox maker Hansen Industrial Transmissions NV in a deal valued at EUR75 million, or about Y8.6 billion.

The Japanese heavy machinery maker has been exclusive talks with parent company Hansen Transmissions International NV (HSN.LN) to buy Hansen Industrial Transmissions since October.

The transaction is scheduled to take place around March 2011.

Sumitomo expects strong demand for industrial gearboxes in regions such as China, South America and South Africa.

-By Hiroyuki Kachi, Dow Jones Newswires; 813-6269-2789; Hiroyuki.Kachi@dowjones.com
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