FOR IMMEDIATE RELEASE
Corum Group Leads Sale of Wenco shares to Hitachi
BELLEVUE, Wash., July 7, 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 Hitachis mining equipment product line, said Mark Reed, executive vice president of Corum Group. The transaction further expands HCMs solutions for the mining industry and also will provide new relationships and resources to increase Wencos 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.
About Wenco
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 industrys 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.
About HCM
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. Corum also educates the industry with its conferences and publishes the most widely distributed software M&A research. Corums principals are highly experienced former tech CEOs, who are supported by the industrys leading researchers, writers and valuation experts. The company has spent more than US $20 million to build the worlds largest and most comprehensive buyer database. This knowledge base combined with Corums experience and industry expertise, consistently ensures unequaled success in client engagements. See www.corumgroup.com.
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