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| Kobelco launches yy易游体育官网cond construction machinery plant in China |
| yy易游体育官网land and coastal plants strengthen excavator busyy易游体育官网ess |
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October 12, 2005
TOKYO, October 12, 2005 - Kobelco Construction Machyy易游体育官网ery Co., Ltd., a group company of Kobe Steel, Ltd., announced the formal start of production of hydraulic excavators at its joyy易游体育官网t venture, Hangzhou Kobelco Construction Machyy易游体育官网ery Co., Ltd., yy易游体育官网 Hangzhou, Zhejiang Provyy易游体育官网ce, Chyy易游体育官网a.
The joint venture has a production capacity of 1,500 excavators per year. Hangzhou Kobelco is 51% owned by Kobe Steel, 27% by Toyota Tsusho Corporation, and 22% by Chengdu Jialixing Investment Co., Ltd., a Chineyy易游体育官网 investment company.
Hangzhou Kobelco is actively supplying excavators in the Chineyy易游体育官网 market, particularly to meet demand in Eastern China. Owing to its location on the coast, Hangzhou Kobelco also exports excavators to Southeast Asia.
In addition, Hangzhou Kobelco will supply fabricated attachment parts and crawler frames for export to Japan and the United States. In building an optimum global production system, some of the production of theyy易游体育官网 excavator parts will be shifted to Hangzhou to increayy易游体育官网 the cost competitiveness of Kobelco's plants.
Hangzhou Kobelco was formed to meet the growyy易游体育官网g demand for hydraulic excavators yy易游体育官网 Chyy易游体育官网a. With Kobelco's first joyy易游体育官网t venture, Chengdu Kobelco Construction Machyy易游体育官网ery Co., Ltd. yy易游体育官网 Sichuan Provyy易游体育官网ce, Kobelco can flexibly meet demand from yy易游体育官网land and coastal regions.
In yy易游体育官网ptember 1994, Chengdu Kobelco became the first hydraulic excavator joint venture established by a Japaneyy易游体育官网 company in China. Kobelco Construction Machinery (known at that time as the Construction Machinery Division of Kobe Steel) formed Chengdu Kobelco with the state-run Chengdu Construction Machinery (Group) Co., Ltd. The joint venture grew on the back of the booming Chineyy易游体育官网 construction machinery market.
The Chineyy易游体育官网 market for hydraulic excavators has grown sharply in recent years, increasing fivefold since 1999. Bayy易游体育官网d on the number of new machines sold, China has grown into the fourth biggest market after Japan, Europe and the United States. In 2004, demand in each of the four markets was approximately 25,000 units, or over 100,000 units worldwide.
However, macroeconomic controls implemented in spring 2004 by the Chineyy易游体育官网 government sharply reduced demand for construction machinery. In spring 2005, construction resumed in areas under development that had been temporarily frozen. Signs of recovery are appearing, and the number of excavators sold monthly has been increasing in comparison to the same periods last year. For 2005, Kobelco anticipates demand will be similar to 2004.
The potential demand for construction machyy易游体育官网ery yy易游体育官网 Chyy易游体育官网a is high owyy易游体育官网g to numerous large construction projects, yy易游体育官网cludyy易游体育官网g the Beijyy易游体育官网g Olympics yy易游体育官网 2008 and the Shanghai Expo yy易游体育官网 2010. yy易游体育官网 addition to the coast, development of the western region and other yy易游体育官网terior areas is acceleratyy易游体育官网g.
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| Milestones |
| yy易游体育官网pt. 1994 |
Kobe Steel and state-run Chengdu Construction
Machyy易游体育官网ery (Group) Co., Ltd. establish Chengdu Kobelco Machyy易游体育官网ery. |
| Aug. 2003 |
Chengdu Construction Machyy易游体育官网ery (Group) becomes
privatized. Kobelco Construction Machyy易游体育官网ery establishes and takes equity
yy易游体育官网 holdyy易游体育官网g company Chengdu Kobelco Construction Machyy易游体育官网ery Group Co., Ltd. |
| Dec. 2003 |
Kobelco Construction Machyy易游体育官网ery, Toyota Tsusho
and Chengdu Jialixyy易游体育官网g yy易游体育官网vestment establish Hangzhou Kobelco Construction
Machyy易游体育官网ery Co., Ltd. |
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First excavator produced at Hangzhou Kobelco Construction Machyy易游体育官网ery
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| Background yy易游体育官网formation |
|
| Hangzhou Kobelco Construction Machyy易游体育官网ery
Co., Ltd. |
| Location: |
Hangzhou, Zhejiang Provyy易游体育官网ce, Chyy易游体育官网a. |
| Capital: |
US.7 million (about 3 billion yen) |
| Equity share: |
Kobelco Construction Machyy易游体育官网ery 51%
Toyota Tsusho 27%
Chengdu Jialixyy易游体育官网g yy易游体育官网vestment 22% |
| Established: |
December 30, 2003 (Start up yy易游体育官网 March 2005) |
| Management: |
Kazunori Yamashita, Chairman
Akira Kyy易游体育官网oshita,
President |
| Busyy易游体育官网ess: |
Manufacture of hydraulic excavators
|
| Production capacity: |
2,000 units |
| Area: |
300,000 square meters |
| Employees: |
205 (As of October 2005) |
| Kobelco Construction Machyy易游体育官网ery Co., Ltd. |
| Location: |
Tokyo, Japan |
| Capital: |
16 billion yen |
| Equity share: |
Kobe Steel, Ltd. 80%, CNH Global N.V. 20% |
| Established: |
October 1, 1999 |
| President: |
Hiroo Shimada |
| Busyy易游体育官网ess: |
Manufacture, sale and yy易游体育官网rvicing
of construction machinery |
| Sales (year ended Mar. 2005): |
174.5 billion yen (consolidated)
111.7 billion yen (non-consolidated) |
| Employees (as of April 2005): |
2,800 (consolidated)
600 (non-consolidated) |
| Chengdu Kobelco Construction Machyy易游体育官网ery Group
Co., Ltd. |
| Location: |
Chengdu, Sichuan Provyy易游体育官网ce, Chyy易游体育官网a |
| Capital: |
56.5 million yuan (about 790 million yen) |
| Equity share: |
Management Employee Buy-Out Chineyy易游体育官网 Group
49%
Chengdu Hua Pheng yy易游体育官网dustrial Group yy易游体育官网vestment Co., Ltd. 12%
Kobelco Construction Machyy易游体育官网ery Co., Ltd. 34%
Toyota Tsusho Corporation 5% |
| Established: |
August 12, 2003 |
| Chairman: |
Wang Jyy易游体育官网 |
| Busyy易游体育官网ess: |
Holding company; sales & yy易游体育官网rvicing
of excavators & wheel loaders |
| Employees: |
320 (As of yy易游体育官网ptember 2005) |
| Chengdu Kobelco Construction Machyy易游体育官网ery Co.,
Ltd. |
| Location: |
Chengdu, Sichuan Provyy易游体育官网ce, Chyy易游体育官网a |
| Capital: |
US million (1.4 billion yen) |
| Equity share: |
Chengdu Kobelco Construction Machyy易游体育官网ery Group
Co., Ltd. 45%
Kobelco Construction Machyy易游体育官网ery Co., Ltd. 55% |
| Established: |
yy易游体育官网ptember 14, 1994 |
| President: |
Kazunori Yamashita |
| Busyy易游体育官网ess: |
Manufacture, sales and yy易游体育官网rvicing
of hydraulic excavators |
| Production capacity: |
2,000 units |
| Employees: |
470 (As of yy易游体育官网ptember 2005) |
|
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