OREANDA-NEWS. July 10, 2012. Mitsui & Co., Ltd. ("Mitsui", Head office: Chiyoda-ku, Tokyo, CEO: Masami Iijima) has executed a share purchase contract to acquire 49.9% of the issued shares of National Plant and Equipment Pty Ltd. ("NPE"), an Australian focused mining equipment rental business. On completion of Mitsui's share acquisition in NPE, Mitsui will become an effective participant in the mining equipment rental business in Australia, while also considering additional investments in the future.

In Australia, rental demand for equipment in the mining industry is increasing rapidly and it is expected that the market will continue to expand with the increase in the production of coal, iron ore and other commodities.

NPE currently has numerous offices throughout Australia, and has in excess of 200 units of large-sized mining and associated equipment. NPE supplies mining companies and mining contractors across many sites and commodities including coal, iron ore, gold and others. Mining equipment rented from NPE is usually characterized by a medium to long term rental period, thus a stable income in rental is expected.

Mitsui currently also has an Australian incorporated joint venture companies with Komatsu Ltd. for the distribution, financing and aftersales support services for Komatsu equipment in Australia. Via this new participation in the mining equipment leasing business through its interest in NPE, Mitsui seeks to expand the mining equipment supply chain and to continue the quick and efficient supply of mining equipment to all mining equipment users.