Komatsu acquires Partek Forest.

• Position: Press Release - Brief Article

November 2003

Komatsu Ltd. has agreed with KONE Corporation to acquire 100% shares of KONE's subsidiaries, Partek Forest AB and Partek Forest Holdings, LLC (collectively, "Partek Forest"). The enterprise value of the transaction is EUR 120 million.

Partek Forest, one of the leading companies for purpose built forestry equipment, produces and sells a wide range of equipment including harvesters, forwarders and feller bunchers. The acquisition is expected to close by the end of 2003, subject to necessary regulatory filings and approvals including those under the applicable antitrust laws and regulations.

Komatsu manufactures and distributes forestry equipment based on its excavators and bulldozers in some regions. By acquiring Partek Forest, Komatsu will establish a wide range of forestry equipment with presence in all major markets around the world. In addition, by combining the regional strength of Partek Forest in Europe and Komatsu in the Americas, Asia and the Pacific, Komatsu will create a...