Amsterdam, Holland-based New Holland N.V. has agreed to purchase German excavator manufacturer Orenstein & Koppel AG from Fried Krupp AG Hoesch-Krupp. New Holland will acquire 75.1 percent of the company; the remaining O&K shares will continue to be traded publicly in Germany. Terms were not disclosed.

New Holland Construction, the company's recently formed North American construction division, is expected to introduce O&K hydraulic excavators in North America this year.