Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President & CEO: Tatsuo Yasunaga) has agreed with Komatsu Ltd. ("Komatsu"; Head Office: Tokyo; President: Tetsuji Ohashi) to transfer its 60% share of Road Machinery Co., S.A. de C.V. ("Road Mexico"), which is Mitsui's wholly owned subsidiary owned through its U.S. subsidiary, to Komatsu's subsidiary. Road Mexico is a mining machinery sales and service provider company based in Mexico. The share transfer agreement was concluded between the respective subsidiaries, and, subject to the approval of the relevant authorities on the share transfer, this transfer is scheduled to be executed around February 2016.
After completion of the transfer of the 60% share, Mitsui and Komatsu are considering unifying Road Mexico and Komatsu's wholly owned subsidiary, Komatsu Maquinarias Mexico S.A. de C.V., which is Komatsu's Mexico-based distributor of construction machinery. As a result, a diversified machinery distributor covering both mining and construction machinery will be established in Mexico. Through the utilization of the knowledge and expertise that Komatsu has accrued as a manufacturer, Mitsui and Komatsu aim to achieve further growth of sales and service of Komatsu mining and construction machinery in Mexico.
Outline of Road Mexico (after Komatsu investment)
|Name of Company||Road Machinery Co., S.A. de C.V.|
|Head Office||Mexico City, The United Mexican States|
|Established||1991 (Mitsui investment: 2005)|
|Shareholders||Komatsu's subsidiary: 60.0%
Mitsui's subsidiary: 40.0%
|Business Activities||Sales and maintenance services of Komatsu mining machinery|
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