Sumitomo Corporation is pleased to announce that its long term partner Komatsu Limited has purchased 100% of Red Australia Equipment Pty Ltd shares through its fully owned subsidiary - Komatsu Australia Holdings Pty Ltd. The acquisition took effect March 31 2009. 

 

Komatsu Limited is a global organisation with 39,000 employees, publicly listed Japanese company, focusing on the manufacture and sale of construction, mining, utilities and industrial machinery. Internationally the business has consolidated revenue levels exceeding AUD 30 Billion. 

Sumitomo originally purchased this business from TNT back in 1998 and the decision to sell has been a difficult one but with the right partner in Komatsu we believe this ownership will result in improved market awareness, branding, timing to market, competitiveness and longer term access to a broader product offering. Red’s business will continue to operate “as business as usual”. 

Former President of Komatsu Forklift Asia Pty Ltd., Mr Tetsuya (Ted) Ishikawa in his new position as Red Australia Equipment’s Managing Director acknowledged that “Quality and Reliability is the most important management policy.” “Komatsu has been committed to provide safe and innovative products to the market for a long period and this direct involvement in the Australian Market will enable Komatsu to further develop and fulfil this commitment to the market by delivering, quality products and high grade product support services provided by our employees with a quality oriented mind” he added. 

In relation to all other agencies that Red represents (PM Cranes, Baumann and Kevrek) business will continue as usual as Komatsu see a number of synergies within the non Komatsu agencies. As with Komatsu it is expected that Red will continue to grow volume and market share with these agencies. 

If you would like further information on this acquisition please contact the General Manager Red Australia, Mr. David Cullen on 0413 701 800

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