UMW forms JV with Japan's Komatsu under heavy equipment business

UMW forms JV with Japan's Komatsu under heavy equipment business
KUALA LUMPUR (July 2): UMW Corporation Sdn Bhd (UMWC), a wholly-owned subsidiary of UMW Holdings Bhd, has agreed to form a joint venture (JV) with Japan's Komatsu Ltd under its heavy equipment business.Under the proposed JV, UMW and Komatsu expect to further strengthen and expand market penetration of Komatsu's products in Malaysia, Brunei,...

KUALA LUMPUR (July 2): UMW Corporation Sdn Bhd (UMWC), a wholly-owned subsidiary of UMW Holdings Bhd, has agreed to form a joint venture (JV) with Japan's Komatsu Ltd under its heavy equipment business.

Under the proposed JV, UMW and Komatsu expect to further strengthen and expand market penetration of Komatsu's products in Malaysia, Brunei, Singapore, Myanmar and Papua New Guinea, according to a statement from UMW today.

UMWC and Komatsu inked a transaction agreement (TA) today to establish a JV company (JVco) for the purpose, which will be looking to capture new growth areas and firming up Komatsu's existing presence with the introduction of new products and services.

Source: www.theedgemarkets.com