Pursuant to an agreement between Komatsu Ltd. (President & CEO: Kunio Noji) ("Komatsu") and Mitsui & Co., Ltd. (President & CEO: Shoei Utsuda) ("Mitsui"), Komatsu through its wholly owned subsidiary, Komatsu America Corp. ("KAC") has taken a 40% equity participation in Mitsui Maquinarias Peru S.A. ("MMP"), a wholly owned subsidiary of Mitsui and a Komatsu distributor in Peru, in the form of third-party allotment. MMP will change its name to Komatsu Mitsui Maquinarias Peru S.A. ("KMMP").
In Peru with rich natural resources, the construction and mining equipment market should continue to grow into the future. While KMMP has been steadily increasing its sales and market share, through this equity participation by Komatsu, KMMP is better positioned to enhance its marketing and product support capabilities in the mining equipment business and further expand its business there.
Outline of KMMP
||Komatsu Mitsui Maquinarias Peru S.A.
||Av. Nicolás Ayllón 2648, Ate - Lima - Perú
||Eduardo Razetto Armestar
||Pen 67 mil.
||Mitsui 60%, KAC 40%
||Pen 351mil.(around10.5bil yen, Fiscal year ended December 31, 2007)
||Sales and rental of construction and mining equipment
||808 (As of September 30, 2008)
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