Komatsu to acquire Log Max
Komatsu Forest AB, a wholly owned subsidiary of Komatsu Ltd. announced it will acquire Log Max AB and Log Max, Inc., Log Max AB's U.S. sales subsidiary from Log Max International.
On a premise of approval by the concerned authority, Komatsu is working to complete the acquisition by the end of November 2012.
Komatsu Forest AB is a member of Komatsu Group, which is the second largest construction machinery group in the world. Komatsu Forest, which is based in Umea in Sweden, is specialized in the manufacturing and marketing of forest machine equipment such as harvesters, forwarders and feller bunchers.
“Personally I think that Komatsu is a fair and reliable company backed by an established management team and technologies,” stated Log Max Group Chairman Stig Linderholm. “Therefore, I have chosen Komatsu as the acquirer for LMAB and LM Inc. I hope and believe that LMAB and LM Inc can achieve further growth and expansion within Komatsu.”
In this transaction, Log Max AB and Log Max Inc will be acquired by Komatsu Forest while Eco Log Sweden AB and its subsidiaries will remain an independent operation under the current management. Log Max AB will continue to supply harvester heads to Eco Log Sweden AB Group as it has done in the past.
According to a Log Max statement, harvester heads made by Log Max AB and Komatsu Forest are mutually complementary in terms of the type of harvesting as well as tree sizes and this is the primary reason for this transaction.
The transaction is planned to be completed by 30th November, 2012. Komatsu has confirmed it has no intention to restructure at Log Max AB and Log Max Inc, and it has no intention to change the current relationship with distributors.