Komatsu enters India<\/p>\n
TOKYO (AFP): Japan's Komatsu Ltd. said yesterday it had agreed
\nwith Larsen and Toubro Ltd. of India to form a joint venture in
\nNovember to produce and market construction machinery in India.<\/p>\n
L and T Komatsu Ltd., would be equally owned by Komatsu and
\nthe Indian partner, said the world second largest integrated
\nmaker of construction machinery, vying with Caterpillar of the
\nUnited States.<\/p>\n
The headquarters of the new venture would be located at Mumbai
\nwith initial capital of 3.72 billion yen (US$33 million), Komatsu
\nsaid, adding that it planned to hire 1,200 employees.<\/p>\n
The venture would produce hydraulic excavators and components,
\nwith projected output of 1,500 units a year by 2000.<\/p>\n
It would build a new plant at Bangalore with production
\nscheduled to start operation in October 1998.<\/p>",
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