Osaka, Japan-based Takamatsu will purchase 22.15 million shares, at a price of $27.8 million, in Komatsu Construc-tion of Tokyo, giving it a 69.2 percent interest in the company. Komatsu Construction's parent company, Komatsu Ltd., is Japan's largest construction equipment manufacturer.
Takamatsu said it expects the acquisition to boost company profits and sales to $33.4 million and $1.057 billion, respectively.
In other Komatsu Ltd. news, the company said it has reached an agreement with Galveston-Houston to buy its wholly owned Hensley Industries unit, headquartered in Dallas. Komatsu will obtain Hensley's construction and mining machinery parts products in North America and Australia.
The agreement is expected to be signed this month.
Also, Komatsu's forklift unit reportedly plans to sell 33 models made by Europe's biggest forklift maker, Linde AG of Germany,as the first step in an alliance designed to help both companies compete "more effectively" with global rivals.
