I’m pleased to announce that Log Max International Holding AB (Chairman: Stig Linderholm) has recently decided that we are going to sell Log Max AB (hereinafter “LMAB”) and Log Max, Inc., Log Max AB’s US sales subsidiary (hereinafter “LM Inc”) to Komatsu Forest AB (President: Toshio Miyake) (hereinafter “KFAB”), Komatsu Ltd. (President & CEO: Kunio Noji) (hereinafter “Komatsu”)’s wholly owned subsidiary. On a premise of approval by the concerned authority, Komatsu is working to complete the acquisition by the end of November 2012.
KFAB is a member of Komatsu Group, which is the second largest construction machinery group in the world. KFAB, 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.
In this transaction, LMAB and LM Inc will be acquired by KFAB while Eco Log Sweden AB and its subsidiaries (hereinafter “EL Group”) will remain an independent operation under the current management. LMAB will continue to supply harvester heads to EL Group as it has done in the past.
Harvester heads made by LMAB and KFAB are mutually complementary in terms of the type of harvesting as well as tree sizes and this is the primary reason for this transaction.
We plan to complete the transaction by 30th November, 2012. After the completion, Mike Arsenault and I are going to step back and support LMAB as consultants while the other members of the management team will remain in their current positions. Please be reassured that Komatsu has confirmed it has no intention to restructure at LMAB and LM Inc, and it has no intention to change the current relationship with distributors.
Personally I think that Komatsu is a fair and reliable company backed by an established management team and technologies. 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.
Log Max Group