value chain with a view toward increasing mine productivity and reducing costs per ton.
Bellevue, Washington (PRWEB) July 14, 2009
Corum Group Ltd. today announced the acquisition of shares in its client, Wenco International Mining Systems, Ltd. ("Wenco"), by Hitachi Construction Machinery Co., Ltd. (Tokyo Stock Exchange, First Section)("HCM"). HCM acquired a significant interest in Wenco in a strategic transaction as part of the expansion of its mining business, particularly in resource rich regions of the world.
"Wenco is a leading global vendor of mine management solutions; their software business fits extremely well with Hitachi's mining equipment product line," said Mark Reed, executive vice president of Corum Group. "The transaction further expands HCM's solutions for the mining industry and also will provide new relationships and resources to increase Wenco's ability to serve the mining industry. Working together, Wenco and Hitachi will be able to add even more efficiencies to the "pit to port" value chain with a view toward increasing mine productivity and reducing costs per ton."
Wenco International Mining Systems is headquartered in British Columbia, Canada. Using the latest GPS, wireless broadband communication, computer technology, and software applications, Wenco provides proven and sustainable benefits to the mining industry. Wenco provides solutions to the mining industry's largest, most respected companies such as BHP-Billiton, DeBeers, AngloGold, Teck, and US Steel. The company maintains sales/support offices in North America, South America, Africa, Australia, and Eurasia.
Hitachi Construction Machinery Co., Ltd. (HCM) and its consolidated subsidiaries (the HCM Group) use extensive experience and advanced technological capabilities to develop and manufacture a wide range of leading-edge construction machinery. HCM's main product line is hydraulic excavators, with the company manufacturing many models, from medium-sized and mini excavators all the way up to 800-ton ultra-large excavators. HCM is a leader in the area of construction machinery, and has manufacturing facilities in Europe, the U.S. and Asia. HCM also markets wheel loaders, off-road dump trucks, and other products made by HCM Group companies or in partnership with major manufacturers.
About Corum Group
Corum Group Ltd. is the global leader in merger and acquisition services, specializing in serving software and information technology companies worldwide for nearly 25 years and with offices in eight countries. Experience makes the difference with Corum having completed hundreds of software M&A transactions spanning six continents, enabling the firm to deliver a proven business process for its clients. Corum also educates the industry with its conferences and publishes the most widely distributed software M&A research. Corum's principals are highly experienced former tech CEOs, who are supported by the industry's leading researchers, writers and valuation experts. The company has spent more than US $20 million to build the world's largest and most comprehensive buyer database. This knowledge base combined with Corum's experience and industry expertise, consistently ensures unequaled success in client engagements. See http://www.corumgroup.com .