Aug 12, 2003
Establishment of a New Joint Company Following the Privatization of Our Joint Enterprise Partner in China

- Inaugurated this day a new joint company "CHENGDU KOBELCO CONSTRUCTION MACHINERY GROUP CO., LTD.". -

In connection with the privatization of the local joint enterprises partner in China, "Chendu Construction Machinery Group Co., Ltd." (Chairman: Mr. Wang Jin,: hereinafter called as CHENGDU CONSTRUCTION MACHINERY), Kobelco Construction Machinery Co., Ltd (Head office: Shinagawa-ku, Tokyo, Japan, President: Takashi Ishida) has made a decision on its investment participation, and on this day of August 12th, 2003, has established a new joint company "CHENGDU KOBELCO CONSTRUCTION MACHINERY GROUP CO., LTD.,(hereinafter called as CHENGDU KOBELCO GROUP)".

The outline of the new joint company is as follows;

Outline

Company Name : CHENGDU KOBELCO CONSTRUCTION MACHINERY GROUP CO., LTD.
Location :

#1, Zhong Lu, Huang He, Chengdu Economic & Technological
Development Area, Chengdu-City, SiChuan, P.R.of China
Establishment : August 12th, 2003
Capital : RMB 56.5 Million (Approx. 790 Million Japanese Yen)
Shareholders :

MEBO (China): 49%
Chengdu HuaSheng Group Investment Co., Ltd. (China): 12%
Kobelco Construction Machinery Co., Ltd. (Japan): 39%
Activities :
  • Functions as a Holding Company
  • Marketing and After-Service Operations of Crawler/ Wheel Excavators
Executive Officers : 8 persons (MEBO: 4, HuaSheng Group: 1, KCM: 3)
Employees : 360 persons

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