Komatsu Limited of Japan and Daewoo Heavy Industries and Machinery Corporation of Korea entered into a two-year agreement for Komatsu to supply equipment to Daewoo for distribution through Daewoo’s distributor network in Korea.
The agreement calls for Daewoo to import Komatsu Limited construction equipment products into the Korean domestic market. These products will include specialty equipment not manufactured or distributed by Daewoo, such as zero tail-swing mini-excavators, wheel loaders in excess of 4.9 cu m and some models of large excavators, shovels and dozers.
During the first year of the agreement, Daewoo will import four models of mini-excavators and three models of large hydraulic excavators. The second phase of the agreement will see the introduction of three models of wheel loaders in excess of 4.9 cu m, three models of dozer, two models of large dump trucks; two models of large front shovels. The final phase of the agreement will see the import of vibratory rollers, road stabilizers and mobile crushing equipment.
In addition, the agreement calls for Daewoo to supply Komatsu Limited with some component parts, of which the details were not announced.
Finally, although reports of plane for export market activities and cooperation between the two companies in the overseas market have been announced by the Korean press, officials at Daewoo Heavy Industries and Machinery Corporation have confirmed that there are no discussions between the two companies on this subject.
