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| Komatsu to establish a joint-venture distributorship in Thailand Japan-based Komatsu Ltd. and Bangkok Motor Works Co., Ltd. ("BMW"), Komatsu's distributor of construction and mining equipment in Thailand, signed a letter of intent to establish a joint-venture distributorship in Thailand. Komatsu and BMW agreed that Komatsu will make equity participation in Bangkok Komatsu Sales Co., Ltd. ("BKS") which was established by BMW as its subsidiary in January 2010, and that BKS, as a joint-venture distributor, will take over the distribution business of Komatsu's construction and mining equipment in Thailand from BMW. Komatsu and BMW signed the definitive agreement concerning BKS. Based on the agreement, Komatsu will acquire 40% of the shares of BKS through its wholly owned subsidiary, Komatsu Asia & Pacific Pte Ltd, while BMW, its president, Dr. Phornprapha, and Mr. Pranitan Phornprapha will continue to hold 60% of the shares of BKS. write your comments about the article :: © 2010 Construction News :: home page |