OREANDA-NEWS. Larsen & Toubro announced that it would acquire 50% stake in L&T-Komatsu Limited (LTK) held by Komatsu Asia & Pacific Pte Ltd, a wholly- owned subsidiary of Komatsu Ltd. (Komatsu), Japan.

With this buy-out, LTK will become a wholly owned subsidiary of L&T. LTK will continue to manufacture construction equipment and hydraulic components. Komatsu will be responsible for the production of Komatsu equipment including hydraulic excavators.

As a result of this transaction, the Companies expect to be able to provide premium products and services to customers, and maintain leadership position in construction & mining equipment business, offering state-of-the art machines with highest level of quality and latest designs from Komatsu. L&T will continue to be responsible for marketing, sales and product support in India for the Komatsu range of products, assuring customers of the highest level of support.

Larsen & Toubro is a USD 13.5 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. It is ranked 4th in the global list of Green Companies in the industrial sector by the reputed international magazine Newsweek, and ranked the world’s 9th Most Innovative Company by Forbes International. L&T is one of the largest and most respected companies in India’s private sector. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business over seven decades.