Mitsui Acquires Half of Australian Mining Equipment Rental Company

Mitsui & Co. Ltd. has executed a share purchase contract to acquire 49.9% of the issued shares of National Plant and Equipment Pty Ltd., 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.

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