Hitachi Expands Its Mining Business by Acquisition of Wenco
3 Jul, 2009
Hitachi Construction Machinery Co., Ltd. (Tokyo Stock Exchange, First Section)(“HCM”) announced that it will expand its mining business, particularly in resource rich regions of the world.
HCM has made a strategic investment and purchased a significant interest in Wenco International Mining Systems, Ltd. (“Wenco”). Wenco is a leading producer of fleet management systems and an innovator of technology to improve mine operation efficiency.
Michijiro Kikawa, the President and CEO of HCM, stated, “Major mining companies today focus on increased productivity and safety. They demand a system that would monitor the operations of mining equipment, maintain such equipment and manage its productivity. By working with Wenco hand-in hand, HCM will strengthen its mining business even more than it has by offering both software and hardware desired in the business.”
Phil Walshe, the President and CEO of Wenco, stated, “This investment by Hitachi will provide Wenco with a new and strong corporate foundation that will significantly increase our opportunity to provide customers with a high level of product support and enhanced technical service. The new entity will combine Wenco’s leading expertise in fleet management systems and software development with Hitachi’s long experience in the manufacturing and maintenance of mining equipment. The mining industry continues to need evolving technology solutions to improve operating efficiencies and manage costs and I believe the new Wenco/Hitachi team will be a key player in delivering those solutions in the years to come.”
Hitachi Construction Machinery Co., Ltd. (HCM) and its consolidated subsidiaries (the HCM Group) use extensive experience and advanced technological capabilities to develop and manufacture a wide range of leading-edge construction machinery.
HCM’s main product line is hydraulic excavators, with the company manufacturing many models, from medium-sized and mini excavators all the way up to 800-ton ultra-large excavators. HCM is a leader in the area of construction machinery, and has manufacturing facilities in Europe, the U.S. and Asia. HCM also markets wheel loaders, off-road dump trucks, and other products made by HCM Group companies or in partnership with major manufacturers.
HCM was established in 1970, when Hitachi, Ltd. spun off its construction machinery division. When it was still part of Hitachi, HCM was involved in the production of Japan’s first mechanical excavator, more than 50 years ago.
Wenco International Mining Systems was founded in 1986 and is headquartered in British Columbia, Canada. Using the latest GPS, wireless broadband communication, computer technology, and software applications, Wenco provides proven and sustainable benefits to the mining industry. Wenco has experience in implementing and supporting systems in a wide variety of mines from the Canadian Arctic, to Siberia, to the Australian Outback. Wenco provides solutions to the mining industry’s largest, most respected companies such as BHP-Billiton, DeBeers, AngloGold, Teck, and US Steel. The company maintains sales/support offices in North America, South America, Africa, Australia, and Eurasia. For more information please visit www.wencomine.com