2011

Marubeni in Mining and Construction Equipment Leasing (Retail Finance) Joint Venture in Australia with Hitachi Construction Machinery Co., Ltd.

Jun. 24. 2011
Marubeni Corporation

Marubeni Corporation is pleased to announce that it has entered into a joint venture agreement with Hitachi Construction Machinery Co., Ltd. (HCM) and established a new company to provide retail financing (leasing) for mining and construction equipment in Australia.

In Australia, recently, the demand for mining and construction equipment has been growing due to an increase in mining development and production as a result of the high level of natural resource demand from newly emerging economies and expanding infrastructure construction in Australia itself. Marubeni first began its investment in the mining and construction equipment business in Australia in 1991 as a distributor, and it is hoped this new venture into the retail finance area will create synergies with this distribution business.

In cooperation with HCM, the new company plans to use retail financing to promote and increase the sales of HCM's mining and construction equipment.

Marubeni has been engaged in the mining and construction equipment leasing business in the United Kingdom, Indonesia and the Philippines and will continue to strengthen both the retail financing for and distribution of mining and construction equipment as an important part of its business strategy.


Corporate Profile of New Company
Name:  Marubeni Equipment Finance (Oceania) Pty. Ltd.
Place: Sydney, Australia
Capital: A$15 million(Approximately JPY1,290 million)
Shareholders: Marubeni 80%, HCM 20%


 Corporate Profile of HCA

Name:  Hitachi Construction Machinery (Australia) Pty. Ltd.
Place: Sydney, Australia
Capital:  A$22.741 million(Approximately JPY1,956 milllion)
Shareholders:  HCM 80%, Marubeni 20%

 

HCM's Off Road Dump Truck & Hydraulic Excavator which HCM & Marubeni target to expand the sale of

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