Komatsu Forest AB, Manufacturer of Forestry Equipment Established in Sweden

Komatsu announced the renaming of its subsidiary in Sweden, Partek Forest AB, to Komatsu Forest AB as of January of this year. Partek Forest, acquired by Komatsu at the end of last year, manufactures and distributes forestry equipment.

On February 2, Komatsu Forest held a grand opening ceremony at the head office in Umeå, Sweden, which was attended by 400 employees and many guests, including Mr. Lorentz Andersson, county governor of Västerbotten, Mr. Lennart Holmlund, city mayor of Umeå, Ms. Ewa-May Karlsson, city mayor of Vindeln.

Partek Forest, the predecessor of Komatsu Forest, was the second largest manufacturer of forestry equipment in the world, providing the "Valmet" line of machines to nearly thirty countries primarily in Europe and America. Inheriting these management resources, Komatsu Forest continues to manufacture the proven "Valmet" machines, in addition to the development, manufacture, and sales of high quality, reliable forestry equipment from the introduction of Komatsu's own technologies.

Komatsu currently manufactures and distributes forestry machines based on its own construction equipment models. With the addition of the "Valmet" models, Komatsu will offer a full line of forestry equipment. Moreover, Komatsu and Komatsu Forest will mutually supplement their advantages in products and marketing to expand sales through their global sales and service network, aiming at a sales target of 50 billion yen for 2006.

Company name : Komatsu Forest AB
Established : January 1, 2004
Capital stock : 157 million Sweden Krona
Controlling shares : 100% by Komatsu
Location of head office: Umeå, Sweden
Chairman and CEO : Hans Eliasson
President and COO : Hideki Yamada
Major business : Manufacture and sale of forestry equipment
Manufacturing bases:
Umeå and Vindeln, Sweden
Shawano, Wisconsin, U.S.A.
Employees : 1,016 (as of December 31, 2003)
Business forecast : Sales of approx. 30 billion yen for fiscal year ending March 31, 2005