Marubeni Participates in Komatsu Distributor in Vietnam
Dec 28, 2006
Marubeni Corporation (President: Nobuo Katsumata; Head office: Chiyoda-ku, Tokyo, hereinafter called “Marubeni”) has signed Share Assignment Agreement with Komatsu Construction Equipment Trading and Technical Service of Vietnam Joint Stock Company(President & CEO: Nguyen Thanh Cong; Head office Hanoi City, Vietnam, hereinafter called “KVN”) on an equity participation of 30% in KVN by subscribing new shares issued by KVN. Marubeni’s purchase price is approximately US$4mil.
Marubeni has been exporting Komatsu Construction Equipment to Vietnam for a long time and came to the above agreement with KVN after a series of discussion with them on expansion of construction machine business in Vietnam to respond to the strong demand in mining sector and construction sector.
We expect that the size of construction equipment required in mining sector, especially in coal mining will be larger and larger, and we also expect that various infrastructure projects in Vietnam will require more construction equipment.
Marubeni will expand Komatsu construction equipment business in Vietnam by strengthening the sales network and support system in KVN.
<Outline of KVN>
Incorporation : October, 2003
Location : Hanoi City, Socialist Republic of Viet Nam
President : Mr. Nguyen Than Cong
Major Shareholders (percent of shares) : Mr. Nguen Than Cong(61%), Marubeni Corporation(30%)